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Fly News Breaks for May 13, 2019
APD
May 13, 2019 | 09:20 EDT
BMO Capital analyst John McNulty raised his price target on Air Products to $235 and kept his Outperform rating, also raising his FY20 EPS view to $9.35 from $9.23. The analyst contends that the industrial gas industry is in the "early throws of a pricing renaissance" amid capacity adds, inflationary, and consolidation. McNulty also believes that its sizable backlog of projects and an "upswing" in LNG activity should allow Air Products to generate double-digit earnings growth.
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