By Al Root

The war in the Middle East is closing out its second week, raising oil prices and roiling global stock markets.

The situation, however, has led to tightening markets for commodity chemicals and industrial gases. Wall Street upgraded four more stocks for investors to consider.

Friday, Wells Fargo analyst Michael Sison upgraded shares of acetic acid and vinyl acetate monomer maker Celanese, fertilizer maker Nutrien, and industrial gas provider Air Products to Buy from Hold.

"We see pricing upside across several chemical chains as a result of the conflict in Iran, which should support near-term sentiment & upside to first half 2026 outlooks," Sison wrote in a Thursday report.

His Air Products price target went to $325 from $270. His Celanese target is to $70 from $55, and his Nutrien target is to $100 from $70.

Nutrien stock was up 1.2% in early trading at $84.93, while the S&P 500 and Dow Jones Industrial Average were up about 0.5% and 0.7%, respectively.

Celanese stock was up 2.7% at $61.20. Air Products' stock was up 1.9% at $296.03.

Shares of Air Products' peer Linde were also upgraded by JPMorgan analyst Jeffrey Zekauskas to Buy from Hold.

"We think that Linde is built better for current market conditions than many materials companies," wrote Zekauskas in a Friday report. "Linde's chemical customers in the United States are likely to increase operating rates in order to avail themselves of higher export prices. Linde's refinery customers are also likely to increase operating rates."

His price target went to $525 from $455 a share. Linde stock was up 1.8% at $499.22 in early trading.

Overall, 69% of analysts covering Linde stock rate shares Buy, according to FactSet. The average Buy-rating ratio for stocks in the S&P 500 is currently about 59%. The average analyst price target for Linde stock is about $516.

For Air Products, 56% of analysts covering its stock rate shares Buy. The average price target is $308.

Celenase has a Buy-rating ratio of 57% and an average price target of about $62. Nutrien has a 50% Buy-rating ratio and an average price target of about $78.

Write to Al Root at allen.root@dowjones.com

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March 13, 2026 10:50 ET (14:50 GMT)

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