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.
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