Jefferies Reiterates a Buy Rating on Ashland Inc.

By Carrie Williams

In a report released yesterday, Laurence Alexander from Jefferies reiterated a Buy rating on Ashland Inc. (NYSE: ASH), with a price target of $129. The company’s shares closed yesterday at $113.54.

Alexander noted:

“With Valvoline expected to exit by Q3, proof of improvement in personal care and pharma is needed before the stock rebounds.”

According to TipRanks.com, Alexander is a top 25 analyst with an average return of 13.5% and a 65.6% success rate. Alexander covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, GCP Applied Technologies, and Axalta Coating Systems.

Currently, the analyst consensus on Ashland Inc. is Moderate Buy and the average price target is $129, representing a 13.6% upside.

In a report issued on November 10, UBS also maintained a Buy rating on the stock with a $125 price target.

The company has a one year high of $125 and a one year low of $88.30. Currently, Ashland Inc. has an average volume of 660.5K.

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Keith Silverman, the VP of ASH sold 3,465 shares for a total of $387,699.

Ashland Global Holdings, Inc. engages in the business of specialty chemicals. Its activities include manufacturing and distribution of specialty additives and functional ingredients including cellulose ethers and synthetic polymers. The company was founded May 6, 2016 and is headquartered in Covington. KY.