Jefferies Reiterates Buy, $65 Target on Ashland

Jefferies maintains its Buy rating and $65 target price on Ashland, Inc. (NYSE: ASH) as the company's October trends stay in line.

Jefferies says, “Though inclusion of ISP complicates the 3-month rolling average trends, October trends overall appear in-line, with Performance Materials posting strong comparisons due to a favorable mix shift (not an inflection point). The pressure on margins in Performance, Water, and Valvoline was expected, and trends should improve in fiscal Q2 (Mar).”

ASH closed at $50.06 per share on Monday.