Air Products and Chemicals (APD) Gets a Buy Rating from Credit Suisse


In a report released today, Chris Parkinson from Credit Suisse maintained a Buy rating on Air Products and Chemicals (APD), with a price target of $302.00. The company’s shares closed last Friday at $253.00.

According to TipRanks.com, Parkinson is a 4-star analyst with an average return of 8.4% and a 65.6% success rate. Parkinson covers the Basic Materials sector, focusing on stocks such as Compass Minerals International, Sherwin-Williams Company, and CF Holdings.

Currently, the analyst consensus on Air Products and Chemicals is a Strong Buy with an average price target of $311.25, which is a 21.6% upside from current levels. In a report issued on January 27, Societe Generale also upgraded the stock to Buy with a $322.00 price target.

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Based on Air Products and Chemicals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.32 billion and net profit of $487 million. In comparison, last year the company earned revenue of $2.28 billion and had a net profit of $503 million.

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Air Products & Chemicals, Inc. engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas; Industrial Gases-EMEA (Europe, Middle East, and Africa); Industrial Gases-Asia; Industrial Gases-Global; and Corporate and Other. The Industrial Gases-America, EMEA and Asia segment markets and produces atmospheric gases such as oxygen, nitrogen, argon, and rare gases; process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production and processing of gases such as air separation units and non-cryogenic generators. The Industrial Gases-Global segment comprises cryogenic and gas processing equipment for air separation. The Corporate and Other segment includes LNG equipment and helium storage and distribution sale of equipment businesses and corporate support functions. The company was founded by Leonard Parker Pool on September 30, 1940 and is headquartered in Allentown, PA.

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