Deutsche Bank Reiterates Ashland Buy, Raises PT

Deutsche Bank reiterated its Ashland (NYSE: ASH) Buy rating and raised its Ashland price target from $62 to $65 in a research report published today.

In the report, Deutsche Bank states, "While 19% CAGR EBITDA growth and 35-39% CAGR EPS growth (aided by the paying down of high cost debt) seems on the surface aggressive, the assumptions underlying the targets appear, in our view, achievable. Near-term Valvoline remains on track to fully recapture base oil price increases by y/e, thus putting to rest investors' key concern."

Shares of Ashland closed Tuesday at $54.61, reflecting no change from Monday's market close.