UBS Cuts Price Target on Ashland (ASH) Ahead of Investor Day
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UBS maintained a Buy rating on Ashland Inc. (NYSE: ASH), and cut the price target to $125.00 (from $128.00), Following the company's 4Q earnings results.
Analyst John Roberts commented, "New ASH EBITDA for SepQ & FYSep17 was guided below UBSe (~$535-585M vs $613M UBSe), but lower guide on tax rate (~10-15% vs ~18% UBSe) & lower D&A (~$270M vs ~$300M UBSe) help somewhat offset EPS. Specialty Ingredients targeting mid-single % EBITDA growth in FY17, offset by decline in smaller Materials unit, so that total FY17 segment EBITDA (excl corp/other) is roughly unchanged at the midpoint vs FY16 (range is +/- ~4% YoY). New “Pivot to Premier” plan targeting “evolving the portfolio”, including “assessment of the role of I&S (e.g. BDO solvent) in ASH’s portfolio will have renewed emphasis”."
Shares of Ashland Inc. closed at $122.33 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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