Wells Fargo analyst Michael Sison raised his price target for Air Products to $260 from $250 giving the company's "impressive" organic sales growth during Q1 and steady deployment capital for growth. Nonetheless, the analyst reiterates an Equal Weight rating on the shares given the stock is trading at a fiscal year 2020 EV/EBITDA of about 14.0-times discounting strong EPS growth despite a tough external environment.

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.