Jefferies Reiterates Buy Rating on Air Products (APD)

Citing a "favorable cyclical profile and a strengthening demand environment," Jefferies & Co. reiterated its Buy rating on Air Products APD today. Jefferies noted that Air Products "recently announced that it has been selected to receive $253m in DOE funding for a carbon capture & sequestration (CCS) project in Port Arthur, Texas." Jefferies analysts estimate that if the project goes forward, it "could add $0.06-$0.09 to EPS in 2015-2018 and $0.03-$0.04 thereafter." Air Products is the world's only combined gases and chemicals company. Shares are trading down today, to $68.82.