Below is a note from Hedgeye CEO Keith McCullough on why we're adding Air Products & Chemicals (APD) to the long side of Investing Ideas today:
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"While I don't like Industrials (relative to Tech, Biotech, Consumer Discretionary, and Housing), I do like Industrials Sector Head Jay Van Sciver's bullish sub-sector thesis on Air Products & Chemicals (APD). Unlike Tech, APD has corrected alongside the broader group and is down today on Praxair's (PX) print. That said, our Industrials Research Team sees that as a buying opportunity. From a sub-sector (of Industrials) perspective, there are many reasons to favor the industrial gas industry at present given the favorable economic and consolidation backdrop." |
***Click here to read a brief overview of Van Sciver's long thesis.
