Ashland price target lowered to $65 from $70 at Mizuho

Mizuho lowered the firm’s price target on Ashland (ASH) to $65 from $70 and keeps an Outperform rating on the shares. The firm adjusted targets in the chemicals and packaging group as part of a March quarter preview. The analyst says 5% of global polyethylene demand may need to be destroyed to balance with net reduced supply from the Middle East. Some suppliers will benefit from the higher prices while others could be hurt by shortages, the analyst tells investors in a research note.