2024-08-01 13:12:23 ET
Summary
- Air Products and Chemicals, Inc.'s results beat expectations, with EPS up 7% and revenue slightly below estimates.
- Operational concerns arose with its COO's departure, but there were no major issues reported in the latest financial results.
- The company continues to execute growth projects, reducing project risk and signing new contracts, with shares potentially reaching $320 in 12 months.
It has been a rocky year for Air Products and Chemicals, Inc. ( APD ) with shares down 13% from a year ago. However, investors got some much-needed relief on Thursday when shares popped over 10% in response to mixed earnings that simply were not as bad as feared. I last covered APD in May , rating shares a "buy," and since that recommendation, it has rallied 13% vs. the market's 4% gain. With new financial data and this appreciation, now is a good time to revisit Air Products. I remain bullish....
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Air Products and Chemicals: Upside Remains After A Better Than Feared Quarter