Huntsman price target lowered to $29 from $30 at Stifel

Stifel lowered the firm’s price target on Huntsman to $29 from $30 and keeps a Buy rating on the shares. The firm is lowering estimates through 2024 and introducing preliminary 2025 estimates after Huntsman lowered its Q4 adjusted EBITDA outlook due to continued pressure in the company’s Polyurethane segment. The persistent lack of discipline in the MDI market on a whole and high degree of negative operating leverage are likely to weigh down earnings in 2024, though the same operating leverage in a recovery supports a steeper valuation on trough earnings, the analyst tells investors.