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Wells downgrades Ashland to Equal Weight after guidance cut

As previously reported, Wells Fargo downgraded Ashland (ASH) to Equal Weight from Overweight with a price target of $50, down from $58, following “another EPS cut,” which has “been an ongoing trend.” While the pullback and valuation “looks attractive from a historical basis,” Ashland needs better growth to drive multiple expansion, the analyst tells investors. The firm believes Ashland may face incrementally higher pressure from tariff and macroeconomic challenges compared to other names under the analyst’s coverage, compounded by unfavorable pricing, which it believes could persist near term.

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