UPDATE: Jefferies Downgrades Ashland on Too Many Headwinds, Too Little Doubt

Loading...
Loading...
In a report published Thursday, Jefferies analyst Laurence Alexander downgraded the rating on
AshlandASH
from Buy to Hold, and lowered the price target from $104.00 to $97.00. In the report, Jefferies noted, “Investor confidence in the asset shuffling thesis may not withstand 2-3 more rounds of downward revisions to EPS and FCF forecasts for 2014E-2016E. Pension headwinds, incentive comp, Valvoline marketing expenses, sluggish end markets: in our view, it all adds up, and makes further multiple expansion more difficult. We downgrade Ashland to Hold from Buy.” Ashland closed on Wednesday at $88.47.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesAnalyst RatingsJefferiesLaurence Alexander
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...