Jefferies Cuts Price Target on Ashland (ASH) to $129; Reiterates Buy
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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