Market Overview

J.P. Morgan Reiterates Neutral Rating, $74 PT on Ashland

Related ASH
Ashland To Sell Elastomers Business To Lion Copolymer Holdings, LLC
Top 4 Mid-Cap Stocks In The Chemicals-Major Diversified Industry With The Highest Gross Margin

In a report published Wednesday, J.P. Morgan & Co. reiterated its Neutral rating and $74.00 price target on Ashland (NYSE: ASH).

J.P. Morgan noted, “We rate ASH shares Neutral. Ashland currently trades at 8.4x EV/EBITDA for 2013 including net pension liability (or 7.0x EBITDA without pension). Our December 2013 price target of $74 reflects a 6.6x multiple of 2013E EV/EBITDA excluding net pension liability. We note that the great majority of analysts writing research on Ashland recommend its shares, which may indicate that its good business prospects are well-reflected in the current stock price and that room remains for negative price volatility were Ashland's earnings to disappoint expectations.”

Ashland closed on Monday at $79.78.

Latest Ratings for ASH

Aug 2014UBSInitiates Coverage onBuy
Jun 2014KeyBancUpgradesHoldBuy
May 2014Deutsche BankMaintainsBuy

View More Analyst Ratings for ASH
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Reiteration Analyst Ratings


Related Articles (ASH)

Around the Web, We're Loving...

Get Benzinga's Newsletters