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Fly News Breaks for August 28, 2019
ASH
Aug 28, 2019 | 09:16 EDT
SunTrust analyst James Sheehan lowered his price target on Ashland to $87 to reflect the multiple contraction across the specialty chemicals sector. The analyst is keeping his Buy rating on the stock however, stating that his recent discussions with the management suggest "stable trends", reduced earnings cyclicality, and market share gains in pharma, nutrition and coatings. At 10.5-times his expected 2020 EBITDA, Sheehan also contends that the valuation on Ashland shares is "undemanding".
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