UPDATE: Jefferies Upgrades Huntsman Corporation to Buy, Raises PT on Multiple Positive Factors

In a report published Monday, Jefferies analyst Laurence Alexander upgraded the rating on

from Hold to Buy, and raised the price target from $20.00 to $26.00. In the report, Jefferies noted, “Tailwinds into 2014-2015 (butane, new PO/MTBE JV, productivity, better FCF profile, EU footprint), recent relative performance and relative valuation support outperformance into 1H14 even with a neutral resolution on TiO2. We are raising Huntsman to Buy from Hold with a $26 price target.” Huntsman Corporation closed on Friday at $19.27.