Credit Suisse analyst Christopher Parkinson raised his price target for Air Products to $151 from $145 to account for a higher net cash balance due to the PMD sale closure to Evonik. The analyst says that despite weaker guide on macro/FX, he sees the shares pullback as a buying opportunity. He reiterates an Outperform rating on the stock.

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.