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Fly News Breaks for May 24, 2019
ASH
May 24, 2019 | 08:35 EDT
Jefferies analyst Laurence Alexander sees around 30% upside potential in shares of Ashland over the next year, "even in a choppy environment." A combination of "fairly resilient" end-markets, a favorable mix shift opportunity, and a multi-year tailwind from cost-cutting makes an 11 times EBITDA multiple achievable, Alexander tells investors in a research note. He raised his price target for Ashland to $93 from $90 and keeps a Buy rating on the shares.
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