These Analysts Cut Their Forecasts On Air Products And Chemicals After Downbeat Earnings
Portfolio Pulse from Avi Kapoor
Air Products and Chemicals, Inc. (APD) reported lower-than-expected Q1 financial results and reduced its FY24 EPS guidance, leading to a 0.4% drop in its stock price. Analysts from Barclays, BMO Capital, Mizuho, JP Morgan, and Seaport Global adjusted their price targets and ratings in response.
February 06, 2024 | 7:40 pm
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NEGATIVE IMPACT
Air Products and Chemicals reported disappointing Q1 results and lowered FY24 EPS guidance, leading to a minor stock price decline and adjusted analyst ratings and price targets.
The direct impact on APD's stock price is evident from the reported 0.4% decline following the earnings announcement and guidance revision. Analysts' adjustments in price targets and ratings further reflect the market's reaction to the news, indicating a negative short-term impact. The slight dividend increase may not be sufficient to offset the negative sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100