Bernstein analyst Peter Clark upgraded Air Products (APD) to Outperform from Market Perform with a $375 price target Investors voted for change at the company’s general meeting, and for the key directors proposed by Mantle Ridge, the analyst tells investors in a research note. The firm says Air Products’ willingness to depart from the gases model and commit substantial capital through unique “stand-alone” complex megaprojects, especially in seeking first-mover advantage in clean hydrogen production, added risks and costs.
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