BofA Lifts Price Target on Air Products (APD) After Earnings Beat

The institution announced second-quarter EPS of $3.20, which exceeded BofA’s anticipation of $3.04. The bushed was driven by outgo savings and one-time benefits successful Asia linked to currency receipts from assets held pending sale.

Air Products’ third-quarter outlook is accordant with expectations. The caller full-year scope indicates fourth-quarter net of $3.40 to $3.55 per share, little than the Street mean of $3.57.

BofA expects the institution to transcend the caller range, owing to assorted levers to conscionable targets, though EPS whitethorn inactive autumn abbreviated of double-digit growth.

BofA’s starring contented is the medium-term maturation forecast, particularly fixed NEOM headwinds. The steadfast is successful statement with absorption that spot marketplace spot successful ammonia is not apt to continue.

Air Products and Chemicals, Inc. (NYSE:APD) manufactures and distributes atmospheric gases. It operates successful the Americas, Asia, Europe, the Middle East, India, and Corporate and Other.

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