Deutsche Bank Lowers Estimates on Ashland

Deutsche Bank is lowering its Q4 EPS estimates for Ashland ASH Deutsche Bank says while overall demand has been stable, Ashland has not closed the gap between selling prices and raw materials cost increases as quickly as had hoped. Deutsche Bank is lowering its FQ4 EPS by $0.15 to $1.05, up 9%. Consensus is $1.15. With earnings upside likely limited in the near-term by Aqualon capacity constraints, Deutsche Bank maintains its Hold rating. At an industry conference last week, Ashland noted some unexpected cost pressures. Raw materials, rather than easing in Q4 as was previously expected, have held firm and in some cases, have risen. Ashland closed Monday at $47.34