UPDATE: J.P. Morgan Raises Ashland's PT

According to a research report published today, J.P. Morgan has increased Ashland's ASH PT from $69 to $72. In the report, J.P. Morgan commented, "We meaningfully raise our EPS forecasts for Ashland. We lift our F2012 earnings estimate for Ashland from $5.70 to $6.15. The three primary sources of the earnings increase are progress in cost reduction in the integration of ISP and the elimination of stranded costs following the divestiture of the Distribution operation, higher than expected volumes and prices in Specialty Ingredients, and a lower tax rate. We also raise our 2013 EPS projection from $6.50 to $6.75." J.P. Morgan maintains its Overweight rating on Ashland, which closed yesterday at $64.76.