August 26, 2024
In
Multi Company Notes
Air Products – Addressing the Concerns; Valuation Re-rating to Follow? Raising TP to USD375
Key Points Debt and Louisiana project IRR concerns overblown, in our view. Underperformance relative to Linde excessive and unjustified Earnings and valuation accretion from growth projects underappreciated We rate APD shares Overweight with...