Ashland started with Buy rating, $130 price target at UBS

Ashland (ASH +1.4%) is initiated with a Buy rating and $130 target price at UBS, which cites the recent sale of its non-core water treatment chemical unit, the announced $200M of cuts to reduce stranded costs, and the accelerated $1.35B stock buyback, which UBS models through 2015.

In the firm's view, plenty of firepower remains for more growth acquisitions, especially given the potential for further divestments.

UBS says it is highly confident in its near-term growth outlook given it is largely from less cyclical businesses and self-help initiatives (the cost savings and buyback).

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs