BMO Capital lowered the firm’s price target on Ashland to $75 from $84 and keeps a Market Perform rating on the shares after its Q4 earnings miss and below-consensus guidance. The company will continue to struggle as it rightsizes its inventory to match the true level of end-market demand, and this will maintain continued pressure on near-term earnings as evident by the weak outlook for Q1, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ASH:
- Ashland Board appoints Sanat Chattopadhyay, executive vice president, Merck & Company, as new director effective November 13, 2023
- Ashland board authorizes quarterly dividend
- Ashland price target lowered to $96 from $110 at Stifel
- Ashland sees Q1 revenue $470M-$490M, consensus $506.5M
- Ashland reports Q4 adjusted EPS 41c, consensus 87c
