Evercore ISI Remains Bullish on Air Products and Chemicals (APD) Following Q4 2025 Results

Air Products and Chemicals, Inc. (NYSE:APD) is one of the 12 best commodity stocks to buy right now.

On November 11, 2025, The Fly reported that Air Products and Chemicals, Inc. (NYSE:APD) saw its price target reduced from $375 to $325 by Evercore ISI, while maintaining its “Outperform” rating. With the firm noting a shift away from earnings-driven moves among chemical companies, it also highlighted Q4 guidance below expectations. Despite this, the firm noted that these stocks gained 6% on average post-results.

Evercore’s price revision followed the company’s Q4 FY25 results, announced on November 7. Air Products and Chemicals, Inc. (NYSE:APD) reported EPS of $3.39, compared to the $3.38 forecast. The company’s focus on its cost-reset strategy was evident during the quarter, as it tightened capital deployment through a 16% workforce reduction. Meanwhile, full-year EPS reached $12.03, a decrease of 3% on a year-over-year basis. However, earnings met the company’s guidance. At the same time, operating margins remained stable at 23.7%, and the company returned $1.6 billion to shareholders, maintaining its commitment to capital efficiency.

Furthermore, Air Products and Chemicals, Inc. (NYSE:APD)’s management discussed its project delivery, noting that the NEOM green hydrogen development is nearly 90% complete and on track to achieve ammonia output in 2027. For FY26, the company sees a 9% EPS growth, modestly positive cash flow, and about $4 billion in capital spending.

Air Products and Chemicals, Inc. (NYSE:APD), operating across North America, Europe, Asia, and the Middle East, runs a global network of industrial gas, hydrogen, and large-scale energy transition projects.

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