Deutsche Bank Maintains Hold on Ashland

Deutsche Bank is out with its report today on Ashland (NYSE: ASH), maintaining Hold.

In a note to clients, Deutsche Bank writes, "Ashland is inexpensive on our unchanged 2012 estimate of $5.80, up 68%. However, while valuation is attractive at 10.6x 2012E EPS and 5.7x 2012E EBITDA, we believe the shares will remain rangebound until the Q3 earnings miss is fully assimilated and there is better clarity on ISP earnings power in 2012. We thus retain our Hold rating."

Deutsche Bank maintains a $75 PT on ASH.

Shares of ASH closed Wednesday at $61.80.