UPDATE: Jefferies Downgrades Ashland on Too Many Headwinds, Too Little Doubt

In a report published Thursday, Jefferies analyst Laurence Alexander downgraded the rating on Ashland (NYSE: ASH ) from Buy to Hold, and lowered the price target from $104.00 to $97.00. In the report, Jefferies noted, “Investor confidence in the asset shuffling thesis may not withstand 2-3 more rounds of downward