There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Air Products and Chemicals (APD) and Summit Materials (SUM) with bullish sentiments.
Air Products and Chemicals (APD)
In a report released today, Vincent Andrews from Morgan Stanley maintained a Buy rating on Air Products and Chemicals, with a price target of $335.00. The company’s shares closed last Tuesday at $300.74.
According to TipRanks.com, Andrews is a 4-star analyst with an average return of 8.6% and a 74.4% success rate. Andrews covers the Basic Materials sector, focusing on stocks such as Axalta Coating Systems, Archer Daniels Midland, and ICL-Israel Chemicals.
Air Products and Chemicals has an analyst consensus of Moderate Buy, with a price target consensus of $323.20, a 10.5% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $335.00 price target.
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Summit Materials (SUM)
In a report released yesterday, Philip Ng from Jefferies maintained a Buy rating on Summit Materials, with a price target of $39.00. The company’s shares closed last Tuesday at $32.54, close to its 52-week high of $32.64.
According to TipRanks.com, Ng is a 5-star analyst with an average return of 17.0% and a 73.5% success rate. Ng covers the Basic Materials sector, focusing on stocks such as International Paper Co, Berry Global Group, and Graphic Packaging.
Currently, the analyst consensus on Summit Materials is a Moderate Buy with an average price target of $34.00.
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