Seaport Global Remains a Buy on Ashland Inc

By Jason Carr

In a report released yesterday, Michael Harrison from Seaport Global reiterated a Buy rating on Ashland Inc (NYSE: ASH), with a price target of $81. The company’s shares closed yesterday at $72.59.

According to TipRanks.com, Harrison is a 4-star analyst with an average return of 14.2% and a 84.4% success rate. Harrison covers the Consumer Goods sector, focusing on stocks such as Cabot Microelectronics Corporation, Air Products and Chemicals, and Sherwin-Williams Company.

Currently, the analyst consensus on Ashland Inc is Strong Buy and the average price target is $82.25, representing a 13.3% upside.

In a report issued on January 30, Jefferies also reiterated a Buy rating on the stock with a $85 price target.

Based on Ashland Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $842 million and GAAP net loss of $4 million. In comparison, last year the company earned revenue of $1.19 billion and had a GAAP net loss of $1 million.

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Ashland Global Holdings, Inc. is a global specialty chemicals company, which engages in the manufacture and distribution of adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. It operates through three segments: Specialty Ingredients, Composites, and Intermediates & Solvents.