Argus lowered the firm’s price target on Ashland to $100 from $118 and keeps a Buy rating on the shares. The company beat on Q3 earnings while benefiting from stronger sales volume within the Personal Care and Specialty Additives segments, though its management also “modestly” reduced its FY24 guidance due to moderating pricing trends and slower global coatings demand growth, the analyst tells investors in a research note. The specialty chemical maker offers significant value, bolstered by its share repurchase program and regular dividend, the firm added.
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