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Investing.com - Argus upgraded Air Products & Chemicals Inc. (NYSE:APD) from Hold to Buy on Friday, setting a price target of $317.00 as the industrial gas supplier shows signs of resilience despite recent challenges.
The research firm cited improving sales and EBITDA performance even in a difficult macroeconomic environment, with expectations for sustainable earnings growth beginning in 2026.
Argus highlighted APD’s significant earnings potential in the developing field of decarbonization, along with management’s efforts to reduce leverage and improve core businesses.
The company, founded in 1940, provides atmospheric gases, process and specialty gases, equipment, and related services globally, and is described by Argus as "well-managed and financially strong" within its industry.
At a price-to-earnings ratio of 22, APD shares are trading at the low end of their historical range, with a dividend yield of 2.5% that exceeds the S&P 500 average, according to the research note.
In other recent news, Air Products reported its third-quarter earnings for 2025, surpassing analyst expectations with an adjusted earnings per share of $3.09, above the forecast of $2.98. The company also exceeded revenue projections, reporting $3.02 billion compared to the anticipated $2.98 billion. Following these results, TD Cowen raised its price target for Air Products to $335 from $315, maintaining its rating on the stock. Additionally, Air Products announced the operational status of its new air separation facility in Cleveland, Ohio, which supplies gaseous and liquid products to regional markets and an onsite customer under a long-term contract.
In corporate governance updates, Howard Ungerleider has been elected to the Air Products Board of Directors, effective September 1, 2025, and will serve on the company’s Audit and Finance Committee. In another leadership change, Megan Britt has been appointed as vice president of Investor Relations, effective August 11, 2025, succeeding Eric Guter. These developments reflect Air Products’ strategic initiatives and leadership adjustments in response to its recent performance and future outlook.
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