Analyst Steven Haynes of Morgan Stanley maintained a Hold rating on Ashland, retaining the price target of $60.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Steven Haynes has given his Hold rating due to a combination of factors impacting Ashland’s financial outlook. The updated EBITDA estimates for Ashland have been revised downward for the upcoming fiscal quarters, reflecting challenges in key segments such as Personal Care, Specialty Additives, and Intermediates. These revisions are primarily driven by lower volume expectations, which are attributed to ongoing difficult consumer dynamics and weak demand for coatings, particularly in the United States.
Despite these challenges, the adjustments in EBITDA estimates are relatively modest, suggesting that while there are headwinds, they are not severe enough to warrant a more negative rating. The Hold rating implies that while Ashland’s stock may not outperform the market significantly, it is expected to maintain its current position without significant downside risk. Investors are advised to consider these factors as part of a broader investment strategy.
In another report released on September 13, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $52.00 price target.