Air Products price target raised to $125 at Jefferies

Air Products (APD +0.3%) is maintained at Hold but with an increased $125 price target, up from $104, at Jefferies, which thinks APD should have fully digested products approved based on the 2004-06 worldview by 2016.

With a new CEO likely identified shortly, the firm expects a more intense focus on levers to improve earnings power but believes this is already largely discounted in the share price.

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