Huntsman price target lowered to $20 from $21 at RBC Capital

RBC Capital analyst Arun Viswanathan lowered the firm’s price target on Huntsman to $20 from $21 and keeps a Sector Perform rating on the shares. Investors are perceiving the company’s negative pre-announcement as “de-risking” as the stock traded flattish to up slightly following the near 50% cut to Q4 EBITDA outlook, but the firm still would not be a buyer at this level as Huntsman looks “fully valued” at an expected 2024 EBITDA multiple of over 15-times, the analyst tells investors in a research note.