JPMorgan says June quarter business activity for many industrial and consumer companies has been trending softly, “and Ashland (ASH) is most likely no different.” The firm expects average prices in the company’s Life Sciences segment to remain negative but continue to level out. Personal Care segment organic volumes should be modestly positive in Q3 exclusive of divestiture activity, the analyst tells investors in a research note. JPMorgan believes Ashland is a collection of “good return specialty businesses suffering from cyclical weakness.” It finds the shares attractively valued at current levels and keeps an Overweight rating on the name with a $67 price target Ashland should return to positive volume and EBITDA growth in fiscal 2026, leading to an improvement in valuation multiples, contends the firm.
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