Air Products and Chemicals, Inc.

(New York Stock Exchange)
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Slightly Bearish -15

RBC cuts target for Air Products and Chemicals stock from USD 360.00 to USD 346.00

Analyst downgrade AI-generated analysis

πŸ“‰ RBC cut its price target for Air Products from USD 360.00 to USD 346.00 on October 15, 2026, citing a more cautious valuation approach.

πŸ“ˆ Fiscal third-quarter 2026 adjusted earnings per share grew 12% year-over-year to USD 3.47, driven by improved operating performance.

πŸ’° Sales increased 5% to USD 3.20 billion in the fiscal third quarter of 2026, reflecting steady demand for industrial gases.

⚠️ The company recorded a GAAP loss per share of USD 6.47 due to significant project-exit charges that obscured underlying profitability.

πŸ“Š Air Products stock trades at EUR 275.20, sitting below its 52-week high of USD 314.87 but above the consensus analyst target.

πŸ—“οΈ The company is scheduled to present fiscal fourth-quarter results on November 5, 2026, providing further insight into future guidance.

Bullish Signals
  • Air Products achieved a 12% year-over-year increase in adjusted earnings per share to USD 3.47 during the fiscal third quarter of 2026.
  • The company reported a 5% sales growth, reaching USD 3.20 billion in revenue for the fiscal third quarter of 2026.
Risk Factors
  • Royal Bank of Canada reduced its price target from USD 360.00 to USD 346.00, indicating a more cautious valuation stance relative to recent performance.
  • The company incurred a GAAP loss per share of USD 6.47 in the fiscal third quarter due to project-exit charges that impacted reported results.
Full Analysis
Royal Bank of Canada (RBC) lowered its price target for Air Products and Chemicals from USD 360.00 to USD 346.00 on October 15, 2026, signaling a more cautious valuation stance despite the company's recent operational improvements. The analyst maintained an outperform rating, but the reduction reflects a divergence between improved quarterly fundamentals and current market pricing. Air Products reported strong fiscal third-quarter 2026 results with adjusted earnings per share rising 12% to USD 3.47 and sales increasing 5% to USD 3.20 billion. However, these figures were partially offset by project-exit charges that resulted in a GAAP loss per share of USD 6.47 for the quarter. The stock currently trades around EUR 275.20, which is below its 52-week high but above the consensus analyst target of USD 333.88. The company supplies industrial gases and equipment to sectors including manufacturing, chemicals, healthcare, and energy, with upcoming fourth-quarter results scheduled for November 5, 2026.