Seaport Research downgraded Air Products to Neutral from Buy without a price target. The company has continued to disappoint investors with apparent execution missteps, project delays, customer uncertainty, and diminishing transparency, the analyst tells investors in a research note. The firm cites these reasons and a lack of near-term catalysts for the downgrade. Seaport awaits “clear signs that execution is improving and the story is fully de-risked,” which it thinks could take several quarters.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on APD:
- Air Products and Chemicals (NYSE:APD) Tanks 10% on Q1 Miss
- Air Products sees Q2 adjusted EPS $2.60-$2.75, consensus $3.16
- Air Products sees FY24 adjusted EPS $12.20-$12.50, consensus $12.97
- Air Products reports Q1 adjusted EPS $2.82, consensus $3.00
- Air Products Reports Fiscal 2024 First Quarter GAAP EPS of $2.73 and Adjusted EPS of $2.82