ASH - Ashland downgraded to Market Perform at BMO Capital
2023-06-26 08:23:32 ET
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Ashland ( NYSE: ASH ) on Monday was downgraded to Market Perform from a prior investment rating of Outperform by analysts at BMO Capital. They said the maker of specialty chemicals faces difficulties in boosting profits as customers reduce their existing inventories.
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“Continued destocking in a host of Ashland’s ( ASH ) end-markets has set the stage for continued earnings pressure,” according to BMO. The financial-services firm cut its price target for Ashland ( ASH ) to $90 a share from $109 a share previously.
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Ashland downgraded to Market Perform at BMO Capital