2024-02-15 13:32:54 ET
A Wall Street analyst believes the market is incorrectly discounting Air Products and Chemicals (NYSE: APD) , creating a buying opportunity. Shares of the gas distributor are up more than 4% as of 1 p.m. ET on the upgrade.
Air Products is a distributor of essential gases to industrial and medical users. The company in recent years has lived in the shadows of industry leader Linde , and the valuation gap increased recently after Air Products missed on earnings and its stock plunged .
Today the company trades at an enterprise value about 13 times earnings before interest, taxes, depreciation, and amortization ( EBITDA ), compared to Linde's 18x multiple.
For further details see:
Why Air Products Stock Is Inflating Today