UPDATE: Huntsman Upgraded at Monness Crespi Ahead of Restructuring Efforts
In a report published by Monness Crespi Hardt, analyst Herb Hardt upgraded Huntsman (NYSE: HUN) from Neutral to Buy and established a $25.00 price target.
In the report, Monness Crespi Hardt noted, "For 2013 there will still be restructuring charges as well as the lack of a one-time benefit from a major outage from a competitor, so earnings comparisons will likely be negative in the first half. However, the low cost natural gas advantage in the United States and Canada should help the petrochemical industry in North America maintain its improving profitability. Restructuring projects have aided efficiencies in all product areas. The weakest segment, Textile Effects, appears to have bottomed. The other disappointing product, titanium dioxide (TIO2), is also in the process of stabilizing. Management is adding to overall capacity, and as a result, operating leverage has been enhanced."
Shares of Huntsman have trading up 4.76 percent since market open to $18.26.
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