UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Huntsman Corporation

In a report published Monday, Jefferies & Company reiterated its Hold rating on Huntsman Corporation

, and raised its price target from $16.00 to $18.00. Jefferies noted, “Huntsman posted a solid Q3, but Q4 faces a severe headwind from both deteriorating Pigments margins and a fall-off in the contribution from PO/MTBE. We still expect 2013E to remain weak, albeit with more moving parts: we are raising 2013E only modestly ($0.05 to $2.10). Basing our valuation models on 2014E supports raising our price target $2 to $18. We reiterate our Hold rating.” Huntsman Corporation closed on Friday at $16.19.