Huntsman downgraded at Scotiabank on elevated EU exposure

As previously reported, Scotiabank analyst Ben Isaacson downgraded Huntsman to Sector Perform from Outperform with a price target of $30, down from $36, citing the significant impact of its EU asset exposure, as illustrated by its restructuring program to deal with this issue. He sees elevated execution risk and a loss in the region until the company completes bringing down MDI production rates to deal with high channel inventories, as well as elevated costs, Isaacson tells investors.