BMO Capital raised the firm’s price target on Air Products to $323 from $300 and keeps an Outperform rating on the shares after its Q3 earnings beat. The earnings call commentary alleviated many investors’ biggest concerns, clearing the way for significant stock appreciation as the management spoke about locking-in offtake agreements for its clean hydrogen mega projects before announcing any future projects, highlighted that NEOM construction and LA permitting is on track, and also spoke to the increased customer interest and demand in the clean hydrogen markets, the analyst tells investors in a research note.
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