Wolfe Research initiated coverage of Air Products with an Outperform rating and $279 price target as part of a broader research note on Chemicals, Agriculture and Packaging names. The company is now taking the necessary steps to address investor concerns, including steering investor attention back to “base business” performance, conveying a clear willingness to utilize project financing for the Louisiana project, and CAPEX now focusing primarily on North America, the analyst tells investors in a research note.
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