Positive
Seeking Alpha
2 days ago
Air Products and Chemicals: A Turnaround Worth Buying
Air Products and Chemicals is reaffirmed as a "Buy," trading 15% below my $291 fair value estimate, with a solid long-term growth outlook. APD targets 8.1% adjusted EPS growth in FY 2026, driven by new asset contributions, strong non-helium pricing, and an expanded $250 million cost reduction plan. Leverage remains healthy at 2.2x net debt/EBITDA, with capex set to decline post-NEOM project, supporting dividend safety and future payout growth.