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ASH

Ashland

$76.11 /

+0.465 (+0.61%)

, AXTA

Axalta Coating

$28.21 /

-0.05 (-0.18%)

07:43
01/29/20
01/29
07:43
01/29/20
07:43

JPMorgan downgrades Ashland to Underweight on softening demand

JPMorgan analyst Jeffrey Zekauskas downgraded Ashland Global Holdings (ASH) to Underweight from Neutral with a price target of $68, down from $74. Demand conditions for Ashland have softened since March 2019, Zekauskas tells investors in a research note. Volume contracted in its key large Specialty Ingredients segment in Q1, with the largest source of contraction in the Pharmachem sub-segment, where sales appear to be lower by about 25% for the second quarter in succession, adds the analyst. He thinks the current year trading multiple of 11.7 times for Ashland is high given that companies with comparable gross margins and EBITDA margins such as Axalta (AXTA) trade at less than 10 times EBITDA.

ASH

Ashland

$76.11 /

+0.465 (+0.61%)

AXTA

Axalta Coating

$28.21 /

-0.05 (-0.18%)

  • 30

    Jan

  • 30

    Jan

ASH Ashland
$76.11 /

+0.465 (+0.61%)

01/29/20 JPMorgan
Ashland downgraded to Underweight from Neutral at JPMorgan
11/21/19
Ashland downgraded to Market Perform from Outperform at BMO Capital
11/20/19 Buckingham
Ashland price target lowered to $80 from $85 at Buckingham
11/20/19 BMO Capital
Ashland downgraded to Market Perform from Outperform at BMO Capital
AXTA Axalta Coating
$28.21 /

-0.05 (-0.18%)

10/25/19
Fly Intel: Top five analyst upgrades
10/25/19 JPMorgan
JPMorgan upgrades Axalta to Overweight on discount to PPG
10/25/19 JPMorgan
Axalta Coating upgraded to Overweight from Neutral at JPMorgan
10/24/19 Baird
Axalta Coating's margin recovery intact, volumes bottoming, says Baird

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