Oppenheimer analyst Ian Zaffino initiated Versum Materials (VSM) with an Outperform rating and $28 target, saying the stock will offer a play on the proliferation of consumer devices, increasingly complex semiconductor design and an industry that has become less cyclical when the separation from Air Products (APD) is completed. Air Products previously said it expects "regular way" trading of Versum common stock to begin on the NYSE on October 3.

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.