Jefferies Boosts Price Target and Estimates on Ashland (ASH)

Jefferies raised estimates and their price target on Buy-rated Ashland Inc. (NYSE: ASH) from $60 to $65 following the company's investor day.

The firm comments, "While ~$10 in EPS by 2014 initially appears aggressive, the target excludes ISP revenue synergies ($0.42-$0.63/sh), includes a $0.35 hit from lower BDO prices, and assumes only a 9% EBITDA CAGR for Specialty Ingredients. Given a likely long base oil market and favorable mix shift in Water Tech and Performance Materials, we are raising our estimates and raising our price target $5 to $65."

FY12 EPS estimates go from $5.00 to $5.40 and FY13 goes from $6.10 to $7.10.

For an analyst ratings summary and ratings history on Ashland Inc. click here. For more ratings news on Ashland Inc. click here.

Shares of Ashland Inc. closed at $54.61 yesterday.

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