Air Products price target lowered to $245 from $260 at Barclays

Barclays lowered the firm’s price target on Air Products to $245 from $260 and keeps an Equal Weight rating on the shares after its Q1 earnings miss. The robust narrative around the stock has come under fairly heavy pressure in the past 12-18 months, as costs have escalated on mega-projects, start-up timings are being pushed out, less and disclosures are being given, the analyst tells investors in a research note. While the stock drop will be attributed to the earnings miss, zooming out, the multiple compression is the market expressing increasing concern about strategy, the firm added.