Redburn Atlantic analyst Colin Isaac upgraded Air Products (APD) to Neutral from Sell with a price target of $330, up from $255. The firm says the Mantle Ridge activist campaign addresses most of the issues around the company’s balance sheet risk, capital allocation and management that underpinned its Sell thesis. Air Products could ultimately unlock greater than $100 per share of value, the analyst tells investors in a research note. Redburn expects Mantle’s proposal to garner broad support.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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 Neutral from Sell at Redburn Atlantic
- Boeing union rejects latest offer, Tesla reports Q3 beat: Morning Buzz
- D.E. Shaw supporting Mantle Ridge slate for Air Products board, CNBC says
- Air Products price target raised to $350 from $340 at JPMorgan
- Air Products price target raised to $330 from $280 at Wells Fargo