As noted earlier, Monness Crespi upgraded Air Products (APD) to Buy from Neutral. Following the announcement of the merger between Praxair (PX) and Linde, the firm thinks that Air Products will benefit from consolidation in the industry. It says that Air Products' balance sheet will enable it to "easily bid on and win new projects" and exploit divestitures in the sector. Additionally, Air Products is in a better position than its competitors who are involved in large transactions or integrations, according to the firm. Target $167.

Air Products intends to build a network of permanent, commercial-scale multi-modal hydrogen refueling stations stretching from Edmonton to Calgary, Alberta, Canada. The permanent, multi-modal hydrogen refueling stations will be equipped to serve heavy-duty vehicles, such as commercial and municipal trucks and buses, as well light-duty hydrogen fuel cell cars. The stations will be along the Queen Elizabeth II Highway that runs through Calgary and Edmonton, providing a fueling experience and speed that is similar to gasoline or diesel. This hydrogen infrastructure will help Western Canada reach a goal of 5,000 hydrogen or dual fuel vehicles on the road in five years.