Air Products downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Air Products (APD) to Neutral from Overweight with a price target of $320, down from $345. The firm says industrial gas pricing trends for Air Products “are showing a few cracks.” There are risks to the the company’s earnings growth rate from the flattening out of industrial gas prices as well as from negative currency effects, the analyst tells investors in a research note. JPMorgan thinks Linde (LIN) has more leverage to a growing economy than Air Products because of its larger packaged gas business.