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Downgrade Alert for Ashland (ASH)

By Nick Russo

Ashland (NYSE:ASH) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $112.72 on volume of 761,000 shares, above average daily volume of 412,000.

Operating in over 100 countries, Ashland Inc. provides the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Ashland's chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, personal care, pharmaceutical, tissue and towel, and water treatment.

Ashland has overhead space with shares priced $112.68, or 19.9% below the average consensus analyst price target of $140.70. Ashland shares have support at the 50-day moving average (MA) of $107.48 and additional support at the 200-day MA of $105.69.

In the past 52 weeks, Ashland share prices have been bracketed by a low of $88.30 and a high of $132.38 and closed yesterday at $112.68, 28% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend is tracking the current trend status for Ashland and will alert subscribers who have ASH in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades ashland

Ticker(s): ASH