Air Products upped to Buy at Vertical Research after Mantle Ridge ‘game changer’

As previously reported, Vertical Research upgraded Air Products to Buy from Hold with a $336 price target News that Mantle Ridge has amassed a $1B-plus stake in Air Products, or an ownership stake of about 1.6% or more, is a “game changer,” says the analyst, who notes that the firm run by CIO Paul Hilal has a history of effecting substantial changes in leadership and strategy at company’s where it has become involved. The firm now expects more intense scrutiny of the three “big picture” issues of CEO succession, capital deployment and creative means to unlock shareholder value, the analyst tells investors.