Market Overview

UPDATE: J.P. Morgan Reiterates Neutral Rating, Lowers PT on Ashland

Related ASH
Top 4 Mid-Cap Stocks In The Chemicals-Major Diversified Industry With The Highest Gross Margin
Benzinga's Top Initiations

In a report published Wednesday, J.P. Morgan reiterated its Neutral rating on Ashland (NYSE: ASH), but lowered its price target from $74.00 to $70.00.

J.P. Morgan noted, “We rate ASH shares Neutral. Ashland currently trades at 8.6x EV/EBITDA for 2013 including net pension liability (or 7.2x EBITDA without pension). Our December 2013 price target of $70 reflects a 8.0x multiple of 2013 EV/EBITDA including net pension liability (6.5x EBITDA without pension). 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 Tuesday at $80.43.

Latest Ratings for ASH

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

View More Analyst Ratings for ASH
View the Latest Analyst Ratings

Posted-In: J.P. MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (ASH)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters