|Over a week ago|
Air Products CFO Scott Crocco to retire, Melissa Schaeffer to succeed him » 09:0207/0907/09/21
Air Products announced…
Air Products announced that Executive Vice President and Chief Financial Officer Scott Crocco plans to retire on September 30, 2021 following a 31-year career with the company and that Melissa Schaeffer will succeed him as Senior Vice President and CFO on August 10, 2021. The transition will see Schaeffer assuming leadership responsibility for various aspects of Air Products' worldwide financial organization - including Controllership, Accounting, Treasury, Tax, Audit, and Shared Business Services. Schaeffer will report to Air Products' Chairman, President and Chief Executive Officer Seifi Ghasemi.
|Over a month ago|
Air Products price target raised to $334 from $295 at Societe Generale » 06:2406/2206/22/21
Societe Generale analyst…
Societe Generale analyst Peter Clark raised the firm's price target on Air Products to $334 from $295 and reiterates a Buy rating on the shares. "Reassuring news" on mega-projects since Q2 - the restart of the $1.3B Lu'An project, increased confidence in the $11.5B Jazan joint venture deal completing by Q4 and the memorandum of understanding for a C$1.3B net-zero hydrogen energy complex in Canada - comes alongside an ongoing recovery, notably in the industrial bulk and cylinder businesses, Clark As previously reported,
Fly Intel: Top five analyst upgrades » 09:5406/1106/11/21
APD, CELH, SIG, BIIB, STX
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Air Products (APD) upgraded to Positive from Neutral at Susquehanna with analyst Sandy Klugman saying while he acknowledges the "downside risks of utilizing a peer-based multiple in an arguably frothy market," Klugman thinks the multiple on Air Products can potentially be justified by the re-rating in the broader market. 2. Celsius Holdings (CELH) upgraded to Outperform from Neutral at Credit Suisse with analyst Kaumil Gajrawala saying that the recent share offering of 6.5M shares provides an opportunity to buy a disruptive energy drinks business with a differentiated product, healthy topline, beneficiary of pandemic recovery, improving structural distribution system, and upside to profitability. 3. Signet Jewelers (SIG) upgraded to Equal Weight from Underweight at Wells Fargo with analyst Ike Boruchow saying Signet reported a very strong Q1 beat, while raising their outlook well above the Street, and Boruchow told invrstors that the bear case has been taken off the table. 4. Biogen (BIIB) upgraded to Outperform from Market Perform at Bernstein with analyst Aaron Gal saying the market circumstance of Aduhelm will allow for strong adoption and that regulatory scrutiny of the price of the new Alzheimer's drugs will not happen until its budgetary impact is observed. 5. Seagate (STX) upgraded to Neutral from Negative at Susquehanna with analyst Mehdi Hosseini saying though his HDD unit and exabytes shipment forecast remain nearly unchanged for over the next year, he now expects higher average selling prices and margins given stronger and more durable cloud/Nearline demand, a better product mix and improving utilization rates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Air Products upgraded to Positive from Neutral at Susquehanna » 08:4206/1106/11/21
Susquehanna analyst Sandy…
Susquehanna analyst Sandy Klugman upgraded Air Products to Positive from Neutral with a price target of $350, up from $240. While he acknowledges the "downside risks of utilizing a peer-based multiple in an arguably frothy market," Klugman thinks the multiple on Air Products can potentially be justified by the re-rating in the broader market. Air Products is poised to capitalize on a "unique opportunity" to leverage its strong balance sheet and technology to deploy capital into high-return gasification, carbon capture, and hydrogen for mobility markets, Klugman said.
Air Products initiated with an Outperform at Wolfe Research » 16:2306/0906/09/21
Wolfe Research analyst…
Wolfe Research analyst Josh Silverstein initiated coverage of Air Products with an Outperform rating. The company's core legacy business is "a stable cash-flow generator" that gives it the capacity to fund initiatives into long-term pieces of the Energy Transition that he expects to continue to drive share price performance, Silverstein tells investors.
Air Products, Baker Hughes announce pact to develop hydrogen compression » 06:2106/0906/09/21
Air Products (APD) and…
Air Products (APD) and Baker Hughes (BKR) announced a strategic global collaboration to develop next generation hydrogen compression in an effort to lower the cost of production and accelerate the adoption of hydrogen as a zero-carbon fuel. As part of the collaboration, Baker Hughes will provide Air Products with advanced hydrogen compression and gas turbine technology for global projects, including NovaLT16 turbines for Air Products' net-zero hydrogen energy complex in Edmonton, Alberta, Canada and advanced compression technology for the NEOM carbon-free hydrogen project in the Kingdom of Saudi Arabia.
Baker Hughes and Air Products to collaborate on global hydrogen projects » 06:1706/0906/09/21
Air Products (APD) and…
Air Products (APD) and Baker Hughes (BKR) announced a strategic global collaboration to develop next generation hydrogen compression aimed at lowering the cost of production and accelerating the adoption of hydrogen as a zero-carbon fuel. Baker Hughes will provide Air Products with advanced hydrogen compression and gas turbine technology for global projects, including NovaLT16 turbines for Air Products' net-zero hydrogen energy complex in Edmonton, Alberta, Canada and advanced compression technology for the NEOM carbon-free hydrogen project in the Kingdom of Saudi Arabia.
Air Products announces plan to build hydrogen energy complex in Alberta » 06:0506/0906/09/21
Air Products and its…
Air Products and its subsidiary Air Products Canada, in conjunction with the Government of Canada and the Province of Alberta, announced a multi-billion dollar plan to build a new net-zero hydrogen energy complex in an effort to make Edmonton, Alberta the center of western Canada's hydrogen economy. Air Products began work in 2018 on the core of this energy complex in Edmonton, which will begin with a C$1.3B net-zero hydrogen production and liquefaction facility expected onstream in 2024. This project has been approved by Air Products' board, subject to final completion of the agreements contemplated in signed Memorandums of Understanding between Air Products and Canadian authorities, and with appropriate permit approvals. This development is consistent with Air Products' growth strategy of executing global megaprojects that enable a transition to a cleaner, more sustainable energy future. The project relies on an innovative combination of well-established technologies to jump-start an ambitious transition to carbon neutrality.
Air Products price target lowered to $269 from $275 at HSBC » 06:1406/0306/03/21
HSBC analyst Sriharsha…
HSBC analyst Sriharsha Pappu lowered the firm's price target on Air Products to $269 from $275 and keeps a Hold rating on the shares. The analyst reduced earnings estimates to reflect the Lu'An shutdown and delays to the Jazan project.
JPMorgan to hold a virtual conference » 04:5505/2105/21/21
AND, PLUS, BLDP, NKLA, APD
Global Hydrogen Week…
Global Hydrogen Week Virtual Conference will be held on May 17-21.