Air Products and Chemicals (APD) shares were down nearly 6% in recent trading Friday after JPMorgan downgraded the company's stock to neutral from overweight, and cut its price target to $320 from $345.
Separately, BMO Capital also downgraded the company stock to market perform, with a price target of $346.
Wells Fargo raised its price target for the company to $365 from $350 and maintained an overweight rating, while Citigroup lowered price target to $373 from $375, keeping a buy rating, and Jefferies increased its price target to $390 from $364 while reiterating buy.
Trading volume stood at about 1.8 million shares against a daily average of roughly 1.5 million.
The industrial gas provider reported fiscal Q1 adjusted earnings of $2.86 per diluted share, up from $2.82 a year ago, while sales declined to $2.93 billion from $3.00 billion for the quarter ended Dec. 31.
Price: 309.64, Change: -18.49, Percent Change: -5.63
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