Air Products & Chemicals stock price target raised to $335 by TD Cowen

Investing.com - TD Cowen raised its price target on Air Products & Chemicals Inc. (NYSE:APD) to $335.00 from $315.00 on Thursday, while maintaining its rating on the stock.

The price target increase follows APD’s fiscal third-quarter earnings report, which showed earnings per share of $3.09, exceeding consensus estimates by 3%. The company’s strong performance was driven primarily by its base business, with notable strength in Asia and Europe. InvestingPro analysis reveals that APD has maintained dividend payments for 55 consecutive years, demonstrating remarkable financial stability despite market fluctuations.

Despite the earnings beat, Air Products maintained its full-year guidance midpoint and guided its fiscal fourth-quarter expectations 3% lower than consensus. Management cited economic uncertainty as the reason for its cautious outlook.

The company reported significant challenges in its helium business, which is expected to contract 4-5% year-over-year, resulting in a 55 to 60 cent impact to full-year earnings per share. According to TD Cowen, APD appeared to be the hardest hit by helium headwinds among major competitors, particularly in the Americas and Asia regions.

Air Products also announced an updated cost reduction program targeting $185-195 million in annual savings, an increase from the $100 million headcount reduction target discussed in the previous quarter. Management continues to expect a third-party partnership for its Louisiana plant by year end, with no additional updates provided on underperforming projects.

In other recent news, Air Products reported its third-quarter earnings for 2025, surpassing analyst expectations. The company achieved an adjusted earnings per share of $3.09, exceeding the forecast of $2.98. Additionally, Air Products’ revenue outperformed projections, reaching $3.02 billion compared to the anticipated $2.98 billion. In another development, Air Products announced the appointment of Megan Britt as the new vice president of Investor Relations, effective August 11, 2025. Britt brings nearly 25 years of experience in finance and investor relations, having previously worked at Archer-Daniels Midland, Tyson Foods, and Corteva Agriscience. She will replace Eric Guter, who is departing the company. These recent developments highlight significant changes and achievements within Air Products.

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