Barclays Rates Air Products and Chemicals (APD) Overweight

Barclays maintains its Overweight rating on Air Products with a price target of $353, a 17.41% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:05 PM EDT

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Barclays rated Air Products and Chemicals, Inc. ($APD) "Overweight" with a $353 price target on October 13, 2026.

Since the rating, $APD is up 3.7% to date (from the $288.96 close on Oct 13, 2026).

APD Air Products and Chemicals, Inc.

$299.59 +21.90% year to date

Daily close · Oct 16, 2026

Key Points

On October 13, 2026, Barclays reiterated its Overweight rating on Air Products and Chemicals, Inc. with a price target of $353.00.
Barclays's $353 price target implies 17.41% upside from Air Products and Chemicals, Inc.'s ($APD) current $300.66 share price.
As of October 16, 2026, Air Products shares traded at $300.66, which is about 14.8% below Barclays' target.
Air Products is set to report its next earnings on November 5, 2026, providing more insights into its performance.

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Barclays has reiterated its Overweight rating on Air Products and Chemicals, Inc. (NYSE: APD) on October 13, 2026, setting a price target of $353. This target suggests a potential upside from the current trading level.

As of October 16, 2026, Air Products shares were recently trading at $300.66, which is about 14.8% below Barclays' target. This gap highlights the potential for growth according to the analyst's perspective.

Other Institutional Activity in Air Products and Chemicals, Inc.

Blackrock Inc. holds 18,316,711 shares of Air Products, worth approximately $5.49 billion, after increasing its position by 261,796 shares. Vanguard Capital Management LLC owns 14,540,399 shares valued at about $4.36 billion, having added 73,780 shares. State Farm Mutual Automobile Insurance Co. remains steady with 11,840,799 shares, while Capital Research Global Investors increased its stake by 191,555 shares, bringing its total to 10,602,157 shares worth around $3.18 billion. State Street Corporation also added 160,751 shares, ending with 10,270,853 shares valued at about $3.08 billion.

Air Products and Chemicals, Inc. Stock Up 5.8%

Air Products shares are currently trading below the $353 price target set by Barclays. This suggests that the stock may be undervalued at its recent price of $300.66, especially given the company's solid fundamentals.

12-month forecast

$APD price target

Air Products and Chemicals, Inc. daily closes and this analyst's $353 target. Not advice.

Recent Earnings

In its most recent earnings report, Air Products reported trailing twelve-month revenue of approximately $12.6 billion, but it faced challenges with a net margin of -0.4%. The company is set to announce its next earnings on November 5, 2026, which could provide further insights into its financial health.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B+ 79/100

Reported Apr 30, 2026

Forward outlook
5 analysts raised price targets.
EPS & revenue
EPS beat estimates by 3.4%. Revenue beat estimates by 2.4%.
Profit surprise
EBITDA met by 1 percent. Operating income beat by 20 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
5 target raises.
Earnings quality
Gross margin up 1.6 points. Operating margin up 103.6 points. Positive free cash flow.

Earnings Call Summary

The quarter delivered strong underlying results with adjusted operating income up 12 percent and margins expanding to 24.4 percent despite sluggish economic conditions. Pricing actions and productivity drove gains across segments, though helium sales fell about 4 percent for the year due to tough prior-year comparisons. Management remains focused on disciplined capital spending, the Darrow ammonia project negotiations with Yara, and bringing new assets online in electronics and aerospace sectors.

Guidance Air Products kept its full-year profit guidance at $12.85 to $13.15 per share, expecting 7 to 9 percent growth. For the next quarter, they said earnings would be $2.95 to $3.10 per share, about 10 to 15 percent higher than last year. The company faces helium weakness but sees pricing gains offsetting that.

Good report. The company beat and showed some forward improvement, with a few meaningful caveats.

Insider Buying and Selling at Air Products and Chemicals, Inc.

Insider activity shows several transactions. Director Andrew W. Evans sold 5 shares at an average price of $283.20 on April 3, 2025, totaling $1,416. Officer Victoria Brifo sold 1,359 shares at $292.38 on August 5, 2025, for a total of $397,344. Beneficial owner L.P. Mantle Ridge sold 70,175 shares at $284.21 on February 12, 2026, totaling $19,944,437. CFO Melissa N. Schaeffer sold 2,714 shares at $303.76 on May 1, 2026, amounting to $824,405.

Analysts Set New Price Targets

On October 13, 2026, Barclays initiated its Overweight rating on Air Products with a price target of $353. Earlier, Argus Research maintained a Buy rating with a target of $329 on September 9, 2026, while UBS and Citigroup maintained Neutral ratings with targets of $305 and $312, respectively.

About Air Products and Chemicals, Inc.

Air Products and Chemicals, Inc. is a global company that provides atmospheric and specialty gases, along with equipment and related services. Headquartered in Allentown, PA, it operates across various markets including the Americas, Europe, and Asia. The company is well-positioned in the specialty chemicals industry, making its stock movements of interest to investors.

Bottom Line

Investors should watch for Air Products' next earnings report on November 5, 2026, which may shed light on its ongoing performance. With Barclays' new target, there could be significant interest in how the stock performs in the coming weeks.