35/100BAir Products & Chemicals stock forecast 2027–2031What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Air Products & Chemicals is 337.56, 6.9% above the current price of 315.85. Their targets range from 305.00 to 373.00.
Of the 13 firms that rated Air Products & Chemicals in the past 12 months, 8 rate it buy or strong buy, 5 hold and 0 sell or strong sell (each firm at its latest rating): a Buy consensus.
Analysts' 1-year price targets range from 305.00 to 373.00, with an average of 337.56.
| Buy | 8 | |
| Hold | 5 | |
| Sell | 0 |
12-month price target
| Highest target | 373.00 |
| Average target | 337.56 |
| Lowest target | 305.00 |
| Current price | 315.85 |
Air Products & Chemicals price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Air Products & Chemicals price target and rating?
How analysts rate Air Products & Chemicals, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
8 of 13 firms rate it buy now, against 5 of 10 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Air Products & Chemicals analyst upgrades, downgrades and price targets
The latest rating change came on 20 March 2026, when JP Morgan upgraded Air Products & Chemicals from Neutral to Overweight. The most recent new target came from RBC Capital on 15 October 2026: 346.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 15 Oct 2026 | RBC Capital | Reiterated · Outperform | 358.00 → 346.00 | -3.4% | 295.63 |
| 12 Oct 2026 | Barclays Aleksey Yefremov | — | 353.00 | — | 283.87 |
| 5 Oct 2026 | UBS | Reiterated · Neutral | 285.00 → 305.00 | +7.0% | 277.57 |
| 9 Sept 2026 | Argus Research Alexandra Yates | Reiterated · Buy | 265.00 → 329.00 | +24.2% | 297.71 |
| 3 Aug 2026 | Deutsche Bank | — | 315.00 → 320.00 | +1.6% | 291.69 |
| 3 Aug 2026 | Morgan Stanley Vincent Andrews | — | 310.00 → 320.00 | +3.2% | 292.52 |
| 31 Jul 2026 | Bernstein James Hooper | — | 345.00 → 373.00 | +8.1% | 293.66 |
| 31 Jul 2026 | Wells Fargo | Reiterated · Overweight | 325.00 → 350.00 | +7.7% | 300.20 |
| 17 Jul 2026 | RBC Capital | — | 358.00 | — | 301.31 |
| 17 Jul 2026 | Bernstein | Reiterated · Outperform | 344.00 → 345.00 | +0.3% | 297.29 |
| 10 Jul 2026 | Evercore ISI Eric Boyes | — | 342.00 | — | 298.92 |
| 1 Jul 2026 | Bernstein James Hooper | Reiterated · Outperform | 315.00 → 344.00 | +9.2% | 302.19 |
| 5 May 2026 | Morgan Stanley Vincent Andrews | Reiterated · Equal Weight | 310.00 | — | 301.07 |
| 4 May 2026 | Deutsche Bank | — | 255.00 → 315.00 | +23.5% | 297.76 |
| 1 May 2026 | Mizuho Securities John Roberts | — | 290.00 → 345.00 | +19.0% | 302.95 |
| 1 May 2026 | BMO Capital | — | 282.00 → 360.00 | +27.7% | 300.05 |
| 20 Apr 2026 | Berenberg Bank | — | 350.00 | — | 291.81 |
| 20 Mar 2026 | JP Morgan | Upgraded · Neutral → Overweight | — | — | — |
| 13 Mar 2026 | Wells Fargo Michael Sison | Upgraded · Equal Weight → Overweight | 270.00 → 325.00 | +20.4% | 290.48 |
| 2 Feb 2026 | BMO Capital John McNulty | — | 282.00 | — | 274.48 |
| 2 Feb 2026 | UBS | Reiterated · Neutral | 250.00 → 285.00 | +14.0% | 271.53 |
| 2 Feb 2026 | Bernstein James Hooper | Reiterated · Outperform | 315.00 | — | 272.02 |
| 2 Feb 2026 | Wells Fargo Michael Sison | Reiterated · Equal Weight | 250.00 → 270.00 | +8.0% | 272.50 |
| 8 Jan 2026 | B of A Securities | Upgraded · Underperform → Neutral | — | — | — |
| 19 Dec 2025 | Wells Fargo Michael Sison | Downgraded · Overweight → Equal Weight | 250.00 | — | 243.75 |
| 18 Dec 2025 | Mizuho Securities | Reiterated · Outperform | 300.00 → 290.00 | -3.3% | 246.38 |
| 15 Dec 2025 | Citigroup | Downgraded · Buy → Neutral | — | — | — |
| 12 Dec 2025 | UBS | Downgraded · Buy → Neutral | — | — | — |
| 11 Dec 2025 | UBS | — | 350.00 → 250.00 | -28.6% | 243.68 |
| 11 Dec 2025 | Argus Research | Reiterated · Buy | 265.00 | — | 239.97 |
| 10 Dec 2025 | Deutsche Bank | — | 255.00 | — | 230.81 |
| 8 Dec 2025 | Wolfe Research Chris Parkinson | — | 315.00 | — | 241.40 |
Air Products & Chemicals EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Air Products & Chemicals's EPS to grow 92.6% a year until 2029. Over the last 5 years it fell 23.5% a year, and over the last 3 years it fell 38.6%.
Analysts expect Air Products & Chemicals's revenue to grow 6.3% a year until 2029. Over the last 5 years it grew 4.7% a year, and over the last 3 years 1.0%.
Revenue
EPS
Does Air Products & Chemicals beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 4.1% off the result, either way, and their revenue estimate 2.3%, over the last 12 quarters.
- EPS beats
- 96 / 136
- Revenue beats
- 80 / 120
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +0.9%
- Since
- January 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q4 FY2026 | 5 Nov 2026 | 3.61 | 3.61 | 0.0% | 3.33B | 3.56B | +6.6% |
| Q3 FY2026 | 30 Jul 2026 | 3.34 | 3.47 | +3.9% | 3.20B | 3.16B | -1.3% |
| Q2 FY2026 | 30 Apr 2026 | 3.06 | 3.20 | +4.6% | 3.07B | 3.17B | +3.3% |
| Q1 FY2026 | 30 Jan 2026 | 3.04 | 3.16 | +3.9% | 3.05B | 3.10B | +1.7% |
| Q4 FY2025 | 6 Nov 2025 | 3.38 | 3.39 | +0.3% | 3.18B | 3.17B | -0.3% |
| Q3 FY2025 | 31 Jul 2025 | 2.99 | 3.09 | +3.3% | 2.99B | 3.02B | +1.1% |
| Q2 FY2025 | 1 May 2025 | 2.83 | 2.69 | -4.9% | 2.92B | 2.92B | -0.1% |
| Q1 FY2025 | 6 Feb 2025 | 3.13 | 2.86 | -8.6% | 2.95B | 2.93B | -0.7% |
| Q4 FY2024 | 7 Nov 2024 | 3.48 | 3.56 | +2.3% | 3.21B | 3.19B | -0.8% |
| Q3 FY2024 | 1 Aug 2024 | 3.03 | 3.20 | +5.6% | 3.04B | 2.99B | -1.6% |
| Q2 FY2024 | 30 Apr 2024 | 2.69 | 2.85 | +5.9% | 3.05B | 2.93B | -3.8% |
| Q1 FY2024 | 5 Feb 2024 | 3.00 | 2.82 | -6.0% | 3.19B | 3.00B | -6.0% |
Air Products & Chemicals stock price 2027–2031: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Air Products & Chemicals's earnings keep growing at the 8.3% a year analysts expect to FY2029, it would earn about 20.04 a share in FY2031. At the P/E it has traded at over the last five years (17.3 to 27.5) that is 346.64 to 550.76 a share, or 452.88 at its average P/E of 22.6. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2027 | 14.38 | 248.76 | 325.01 | 395.25 |
| FY2028 | 15.52 | 268.45 | 350.72 | 426.53 |
| FY2029 | 17.08 | 295.47 | 386.02 | 469.46 |
| FY2030 (extrapolated) | 18.50 | 320.03 | 418.12 | 508.49 |
| FY2031 (extrapolated) | 20.04 | 346.64 | 452.88 | 550.76 |
Each year's EPS is the analysts' consensus to FY2029; the years after grow 8.3% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (17.3, 22.6, 27.5).
Is Air Products & Chemicals stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Air Products & Chemicals's P/E of 132.2 is near the top of its 5-year range (14.4 to 132.2, median 27.0). It is within 5% of its 5-year high. Analysts expect faster growth than in recent years, which can explain part of the high P/E. Fair value is not a reliable guide for Air Products & Chemicals: it made a loss in FY2025, so its usual P/E says little about what it is worth. Its forward P/E, on the consensus for FY2027, is 22.0.
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 132.15
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 26.97
- Five-year P/E range
- 14.4 – 132.2
- Forward P/E (FY2027)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 21.97
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 15.90
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +6.9%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 35.850 | 71.4258Price 35.85193 | +99.2% | |
| 29.050 | 56.2634Price 29.0596 | +93.7% | |
| 241.000 | 464.49205Price 241.00627 | +92.7% | |
| 123.590 | 237.24178Price 123.59297 | +92.0% | |
| 161.400 | 305.52159Price 161.40396 | +89.3% | |
| 157.460 | 297.58169Price 157.46471 | +89.0% | |
| 217.560 | 405.38304Price 217.56507 | +86.3% |
Furthest below the fair value on each stock's page, updated every day.