Wells Fargo analyst Michael Sison upgraded Huntsman to Overweight from Equal Weight with a price target of $32, up from $25. The company has likely seen the bottom in methylene diphenyl diisocyanate, or MDI, implying strong earnings upside with exposure to a housing recovery over the long term, the analyst tells investors in a research note. The firm also expects Huntsman to allocate cash to share buybacks and additional bolt-on acquisitions to drive inorganic growth.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on HUN:
- Huntsman raises quarterly dividend 5% to 25c per share
- Huntsman Announces 5% Increase in First Quarter 2024 Common Dividend and 2024 Annual Meeting of Stockholders
- Huntsman board approves 5% quarterly dividend increase
- Huntsman Announces Fourth Quarter 2023 Earnings
- Huntsman reports Q4 adjusted EPS (21c), consensus (17c)
