Jefferies Raises Price Target On Ashland (ASH) to $75
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Price: $72.66 -0.22%
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies raised estimates and its price target on Buy-rated Ashland Inc. (NYSE: ASH) from $68 to $75.
The firm states, "Despite rapidly rising raw materials (propylene, cotton linter, base oil) Ashland made more progress on pricing than expected. However, as pressure continues into Q3 (Jun), margins will likely remain compressed until at least Q4 (Sep). We are raising our estimates and price target."
The firm raised FY11 EPS from $3.30 to $3.45 and FY12 from $4.15 to $4.30.
For more ratings news on Ashland Inc. click here and for the rating history of Ashland Inc. click here.
Shares of Ashland Inc. closed at $63.15 yesterday.
The firm states, "Despite rapidly rising raw materials (propylene, cotton linter, base oil) Ashland made more progress on pricing than expected. However, as pressure continues into Q3 (Jun), margins will likely remain compressed until at least Q4 (Sep). We are raising our estimates and price target."
The firm raised FY11 EPS from $3.30 to $3.45 and FY12 from $4.15 to $4.30.
For more ratings news on Ashland Inc. click here and for the rating history of Ashland Inc. click here.
Shares of Ashland Inc. closed at $63.15 yesterday.
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