Ashland price target lowered to $53 from $62 at Evercore ISI

Evercore ISI lowered the firm’s price target on Ashland (ASH) to $53 from $62 and keeps an In Line rating on the shares. Q3 marked a shift from earnings-driven moves among chemicals companies, with two-thirds of about 20 chemical names rallying 6% on average post-results, despite half guiding below expectations for Q4 and negative revisions averaging 12%, the analyst tells investors in an earnings recap note for the group.