J.P. Morgan Lowers Estimates on Air Products and Praxair

A report from J.P. Morgan lowers the ‘12EPS estimate on Praxair (NYSE: PX) from $6.30 to $5.85 and the ‘12EPS estimate on Air Products & Chemicals (NYSE: APD) from $6.60 to $5.95. J.P. Morgan maintains the Neutral rating and $103 PT on PX and the Overweight rating and $90 PT on APD.

J.P. Morgan writes, “We meaningfully reduced our EPS estimates for Praxair and Air Products for 2012 as the general business environment slows in its growth rate and offshore currencies weaken”.

Yesterday PX closed at $103 and APD closed at $81.73