Jefferies Remains a Buy on Ashland Inc

By Carrie Williams

In a report issued on July 28, Laurence Alexander from Jefferies reiterated a Buy rating on Ashland Inc (NYSE: ASH), with a price target of $74. The company’s shares closed on Friday at $65.46, close to its 52-week high of $67.90.

According to TipRanks.com, Alexander is a 4-star analyst with an average return of 6.5% and a 58.3% success rate. Alexander covers the Consumer Goods sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and GCP Applied Technologies.

Ashland Inc has an analyst consensus of Moderate Buy, with a price target consensus of $74.

Based on Ashland Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.32 billion and quarterly net profit of $92 million. In comparison, last year the company earned revenue of $1.29 billion and had a net profit of $70 million.

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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.