By: Benzinga
UPDATE: J.P. Morgan Reiterates Neutral Rating, Lowers PT on Ashland
In a report published Wednesday, J.P. Morgan reiterated its Neutral rating on Ashland (NYSE: ASH ), but lowered its price target from $74.00 to $70.00. J.P. Morgan noted, “We rate ASH shares Neutral. Ashland currently trades at 8.6x EV/EBITDA for 2013 including net pension liability (or 7.2x EBITDA without pension).
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