UBS downgraded Air Products to Neutral from Buy with a price target of $241, down from $328. The firm says it needs to get more visibility on the company’s medium term earnings power and the /returns on its longer term projects. Air Products’ growth has been pushed out and there too many unknowns to stay constructive near-term, the analyst tells investors in a research note. UBS now has concerns on the ability for the company to deliver second half of 2024 earnings.
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