Morgan Stanley raised the firm’s price target on Air Products to $280 from $240 and keeps an Equal Weight rating on the shares. Following time spent with CEO Seifi Ghasemi, the firm revised its bull, bear and base case scenarios, which leads to a price target increase. The firm sees a balanced risk/reward and expects the stock to remain at the intersection of a “show me” story with investors and a “trust me” story from management until tangible progress is made on mega project customer contracting, the analyst added.
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