JPMorgan raises Ashland's 2008 EPS forecast

15 January 2008 12:25  [Source: ICIS news]

LONDON (ICIS news)--JPMorgan on Tuesday raised its 2008 earnings per share (EPS) forecast for US specialty chemicals producer Ashland after its November monthly report showed some reversal of weak October margin trends.

 

The bank raised its full-year EPS estimate for Ashland to $3.20 from $3.00 and its first-quarter forecast to $0.73 from $0.60.

 

“Ashland seems to be coping with the slowdown of the domestic economy and rising raw materials costs,” said the JPMorgan analysts in a note to investors.

 

Ashland’s operating income fell 7% to $26m in the third quarter of 2007 as the company suffered from the US construction market downturn. 

 

($1 = €0.67)

By: Mark Watts
+44 20 8652 3214

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