Ashland Shares Jump On Street Optimism, Upgrade

Analysts polled by Thomson Reuters expect, on average, earnings of $1.52 per share for the year. Analysts typically exclude one-time charges.

Ashland has a policy of not commenting on analyst notes or stock movement.

"While the economic outlook remains uncertain, our confidence around Ashland's ability to integrate Hercules and successfully (reduce debt) has increased," Felice said, saying that despite a recent rebound, shares remain "quite cheap."

Meanwhile, the Dow Jones industrial average jumped more than 2 percent on Friday after surprise increases in pending home sales and construction spending offered the latest signs that the economy is stabilizing.