Market Overview

UPDATE: Monness Crespi Hardt Upgrades Huntsman to Neutral on Valuation, Turnaround

Share:
Related HUN
Benzinga's Top Upgrades, Downgrades For October 8, 2018
Benzinga's Top Upgrades, Downgrades For September 25, 2018
Huntsman maintained a Buy at Jefferies on improving trends (Seeking Alpha)

Monness Crespi Hardt upgraded Huntsman (NYSE: HUN) from Sell to Neutral with an $18 price target.

Monness Crespi Hardt noted, "The restructuring efforts that began last year seem to be taking hold, and Huntsman has been able to perform better than many of their competitors within several of their product lines. Earnings for the year are now estimated to be $2.05 per share, which makes the shares of HUN one of the lower multiples in the chemical industry. Given the high level of debt ($3.2 billion with $2.2 billion in equity) there is a discount in effect, but net debt/EBIT is still 2.3x, well within the management goal of 2.0-2.5x. Given the better than expected results, the shares of HUN are being upgraded to Neutral with a price target of $18, or 9x the estimate for this year."

Huntsman closed at $16.19 on Friday.

Latest Ratings for HUN

DateFirmActionFromTo
Oct 2018NomuraMaintainsNeutralNeutral
Oct 2018BarclaysInitiates Coverage OnUnderweight
Oct 2018CitigroupDowngradesBuyNeutral

View More Analyst Ratings for HUN
View the Latest Analyst Ratings

Posted-In: Monness Crespi HardtAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (HUN)

View Comments and Join the Discussion!
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

UPDATE: KeyBanc Capital Markets Initiates Coverage on Amira Nature Foods with Buy Rating, $12 PT

UPDATE: Credit Suisse Reiterates Underperform Rating, Raises PT on Hess Corp.