UPDATE: Jefferies Raises PT on Ashland on Valuation Framework Revisit
In a report published Tuesday, Jefferies analyst Laurence Alexander reiterated a Buy rating on Ashland (NYSE: ASH), and raised the price target from $92.00 to $104.00.
In the report, Alexander noted, “Ashland could have at least one, and possibly two more rounds of asset shuffling left as the firm evolves into a more specialty chemical company. While this will probably take longer than investors expect, even small steps could help shrink the current discount. We are raising our price target to $104 (5.6% FCF yield, 13x 2014E EPS) and reiterate our Buy rating.”
Ashland closed on Monday at $84.50.
Latest Ratings for ASH
|Jun 2015||Global Hunter||Initiates Coverage on||Buy|
|May 2015||FIrst Analysis||Downgrades||Overweight||Equalweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.