J.P.Morgan double-upgrades Huntsman to 'overweight'

Huntsman

07/06/2024 10:45

** J.P.Morgan double-upgrades chemical maker Huntsman Corp
 HUN.N  to "overweight" from "underweight", says share value has
reached cyclical bottom
    ** Huntsman's share price seems to have found a floor near
the current price over a five-year period, with the exception of
the 2020 downturn - JPM
    ** There is ample room for above-average capital
appreciation over a longer period of time from this price-point
- JPM
    ** Notes company's EBITDA has significant exposure to
construction-end markets, which is challenged by higher interest
rates and slower global growth
    ** Price target raised to $27 from $22, representing ~14%
upside to last close
    ** Seven of 19 brokerages rate the stock "buy" or higher, 10
"hold" and two "sell"; their median PT is $28 - LSEG
    ** Up to Thursday's close, HUN down ~6% YTD

 (Reporting by Roshan Abraham)
 ((Roshan.Abraham@thomsonreuters.com))