Huntsman upgraded to Overweight from Underweight at JPMorgan

JPMorgan analyst Jeffrey Zekauskas double upgraded Huntsman to Overweight from Underweight with a price target of $27, up from $22. The analyst thinks the value of the shares has most likely approached a cyclical bottom. There is “ample room” for above-average capital appreciation over a longer period of time from this price point, the analyst tells investors in a research note. The firm believes Huntsman’s share price seems to have found a floor near the current price. It does not forecast Huntsman’s earnings approaching normal levels of EBITDA over the coming two years, but does expect increases from the cyclical earnings trough likely to be reached in 2023-2024.