Ashland initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Ashland with an Outperform rating and $108 price target. The company is often viewed as a “bit of an outcast”, but this simply isn’t the case, the analyst tells investors in a research note. Although destocking has controlled the narrative, destocking was an industry-wide issue, and the firm anticipates relative outperformance in due course on new product ramps and further innovation, the firm added.