Jefferies Cuts Price Target on Ashland (ASH) to $129; Reiterates Buy
- Health, tech stocks extend Wall Street record-setting rally
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jefferies maintained a Buy rating on Ashland Inc. (NYSE: ASH), and cut the price target to $129.00 (from $140.00), following the company's 4Q earnings report. EPS was reported at $0.14 below consensus. Valvoline and ASI margin improvements were offset by weak BDO pricing and an unplanned outage.
Analyst Laurence Alexander commented, "With Valvoline expected to exit by Q3, proof of improvement in personal care and pharma is needed before the stock rebounds. A trough in BDO prices, healthier emerging market trends despite renewed F/X headwinds, and buybacks, are also key ingredients."
Shares of Ashland Inc. closed at $113.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
- Oracle (ORCL): Earnings Preview, Checks Show Strong Cloud Revenue - Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!