Deutsche Bank analyst David Begleiter downgraded Huntsman to Hold from Buy with a price target of $33, up from $31, in conjunction with his December quarter earnings preview. Huntsman has had strong absolute and relative share price performance, with shares up 13% year-to-date and 30% since late September, noted Begleiter. He believes Huntsman’s exposures to building and construction, auto and consumer markets, coupled with uncertainty around potential recessions in the U.S. and Europe, will drive management to provide cautious guidance when the company reports Q4 results in February, Begleiter tells investors.
Published first on TheFly
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