Morgan Stanley analyst Vincent Andrews downgraded Air Products (APD) to Equal Weight from Overweight with a $335 price target. While stating that he is "not turning negative on Air Products — or anything like that" and still likes the industrial gas space for its defensive growth posture, he no longer wants to recommend two industrial gas companies following significant share price outperformance during both 2022 versus the Chemicals sector and versus Linde (LIN) and in Q4 "in particular," Andrews tells investors.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on APD:
- Air Products downgraded to Hold from Buy at Vertical Research
- Air Products price target raised to $339 from $294 at Citi
- Air Products, AES Corp. to invest $4B in new Texas green hydrogen facility
- Air Products price target raised to $340 from $292 at Deutsche Bank
- Air Products Declares Quarterly Dividend
