Analysts at Deutsche Bank lowered their price target on Ashland Global Holdings Inc. (NYSE:ASH) to $110 from $115 on the company’s preannounced Q4 shortfall on supply chain issues.

Given recent preannouncements by specialty peers AXTA, ECL, IFF, PPG, SHW, Ashland's lowering of its Q4 EBITDA guidance by 11% due to supply chain challenges was not a surprise for the analysts. And similar to Q3, the continuation of these headwinds are offsetting strong demand across the company's consumer and industrial end markets.

However, with supply chain issues expected to continue possibly through 2022, the strong earnings growth the brokerage has been anticipating for next year will likely be lower than expected.