BMO Capital lowered the firm’s price target on Air Products to $250 from $307 but keeps an Outperform rating on the shares. The analyst notes that clarity around the business has been reduced to uncomfortable levels and there is “at least modest risk” to earnings for the second half of the year. If Air Products has hope of returning to any normalized valuation multiple, improved execution and clarity is a must, the firm tells investors in a research note.
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