Argus analyst Bill Selesky lowered the firm’s price target on Ashland (ASH) to $56 from $70 and keeps a Buy rating on the shares. The company’s earnings have been hurt in recent quarters by reduced demand and inflationary pressures but the firm expects conditions to improve in the quarters ahead, the analyst tells investors in a research note. Ashland also has a healthy product pipeline, a clean balance sheet, and pays an above-market dividend yield of 3.3%, Argus added.
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