Credit Suisse Raises ASH Target To $69 From $62

Credit Suisse is raising its price target on shares of Ashland Inc. ASH to $69 from $62, “which offers investors 36% upside and reflects a 5.8X multiple on our 2012 EBITDA estimate (assuming the cash that ASH generates over the next 12 months goes toward reducing its net debt).” Accordingly, Credit Suisse said that it believes ASH will outperform the broader group. Ashland Inc. currently trades at $52.53.