Ashland reports financial results1 for second quarter fiscal 2024; issues outlook for third quarter and full-year fiscal 2024

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Go back to Ashland reports financial results1 for second quarter fiscal 2024; issues outlook for third quarter and full-year fiscal 2024

Ashland Inc. (ASH) PT Raised to $114 at Wolfe Research

May 1, 2024 2:06 PM EDT

Wolfe Research analyst Chris Parkinson raised the price target on Ashland Inc. (NYSE: ASH) to $114.00 (from $108.00) while maintaining a Outperform rating.

The analyst comments "As of April 30th, ASH shares +13.3% YTD, outperforming the S&P 500 at +5.6%, XLB (+3.6%) and our Wolfe Ingredients Index (+4.0%) following a better than feared demand outlook for FY'24. On an absolute basis, ASH is trading at 11.6x consensus NTM EBITDA, which is slightly above its 5-year median at 11.1x - which reflects a fairly balanced outlook post PC and SA de-stocking. Over the past 5 years,... More