BofA lowered the firm’s price target on Air Products to $264 from $290 and keeps a Neutral rating on the shares. Air Products missed the bottom end of their Q1 guidance “for the first time in more than 2 years,” notes the analyst, who notes the company’s FY24 outlook assumes a stronger second half. Due to the lower first half results, the firm’s FY24 EPS estimate is reduced to $12.55 from $13.15.
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Read More on APD:
- Air Products and Chemicals (NYSE:APD) Tanks 10% on Q1 Miss
- Air Products sees Q2 adjusted EPS $2.60-$2.75, consensus $3.16
- Air Products sees FY24 adjusted EPS $12.20-$12.50, consensus $12.97
- Air Products reports Q1 adjusted EPS $2.82, consensus $3.00
- Air Products Reports Fiscal 2024 First Quarter GAAP EPS of $2.73 and Adjusted EPS of $2.82
