Barclays upgraded Air Products (APD) to Overweight from Equal Weight with a price target of $365, up from $315, after shareholders elected a new board of directors, including three of four nominees by Mantle Ridge. The shareholder vote “helps turn the page back to the core business, which should drive compounding stock returns,” the analyst tells investors in a research note. Barclays says the company’s new executives are “highly capable” in identifying and fixing the backlog, governance, and leadership concerns by investors. It believes a “rejuvenated” Air Products should help the broader industrial gas industry, but it still prefers shares of Linde (LIN).
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APD:
- Air Products upgraded to Overweight from Equal Weight at Barclays
- Air Products now on path to drive ‘significant’ value, says Wells Fargo
- Air Products reports preliminary voting results fro 2025 Annual Meeting
- Air Products boosts quarterly dividend to $1.79 from $1.77 per share
- Air Products board urges shareholders to vote on the white proxy card