Argus awaiting ‘more favorable entry point’ on Air Products

Argus keeps a Hold rating on Air Products but notes that the firm is waiting for a more favorable entry point on the stock. The company’s higher Q2 earnings reported on April 30th reflected increased selling prices and lower cost of sales, which more than offset lower volumes, unfavorable currency effects, and lower energy cost pass-throughs, the analyst tells investors in a research note. Air Products’ longer-term prospects and earnings potential are significant, particularly when viewed in the developing field of decarbonization, where efforts continue to be advanced for the increased adoption of industrial gases that facilitate cleaner and greener production processes, the firm added.