JPMorgan lowered the firm’s price target on Air Products (APD) to $345 from $350 and keeps an Overweight rating on the shares. The firm says the company took steps to address investor concerns on its earrings conference call. Air Products indicated that its expectation is to begin to be free cash flow positive by 2027, which answered a D.E. Shaw concern over ongoing negative cash flow generation at an industrial gas company, the analyst tells investors in a research note.
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Read More on APD:
- Air Products price target raised to $315 from $295 at Barclays
- Air Products Announces Strong Fiscal 2024 Results
- Air Products reports Q4 adjusted EPS $3.56, consensus $3.48
- Air Products sees Q1 adjusted EPS $2.75-$2.85, consensus $3.20
- Air Products sees FY25 adjusted EPS $12.70-$13.00, consensus $13.31