Air Products & Chemicals, Inc. (NYSE:APD), Bill Ackman’s latest target of shareholder activism, continues to get upgrades from analysts. Atlantic Equities, which had downgraded APD to Neutral from Overweight in April this year, has now upgraded the company to Overweight again, according to the latest report dated September 19.
APD weak in most respects compared to peers
The firm upgraded its price target to $125 from $93 on the expectation of the company showing definite growth. The report notes that APD is underperforming its peers, chiefly Praxair, Inc. (NYSE:PX), and has shown weak operating performance, deteriorating asset utilization and poor cost management. Atlantic expects things to get better as an activist pushes the company to improve its...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
