Air Products and Chemicals, Inc. (NYSE:APD) ranks among the top hydrogen stocks to buy now.
On May 1, BofA Securities boosted Air Products and Chemicals, Inc. (NYSE:APD)’s price target to $305 from $303, retaining a Neutral rating on the company’s shares
The company announced second-quarter EPS of $3.20, which exceeded BofA’s expectation of $3.04. The beat was driven by cost savings and one-time benefits in Asia linked to cash receipts from assets held pending sale. Air Products’ third-quarter outlook is consistent with expectations.
The new full-year range indicates fourth-quarter earnings of $3.40 to $3.55 per share, lower than the Street average of $3.57. BofA expects the company to exceed the new range, owing to various levers to meet targets, though EPS may still fall short of double-digit growth. BofA’s leading issue is the medium-term growth forecast, especially given NEOM headwinds.