Air Liquide upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Air Liquide (AIQUY) to Overweight from Neutral with a price target of EUR 195, up from EUR 161. The macro outlook remains mixed for the European chemicals with added uncertainty from potential Trump tariffs, the analyst tells investors in a research note. The firm says the earnings momentum is likely to be negative in the near-term and prefers a “balanced view between higher quality/compounders and cyclical names in the sector.”