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Fly News Breaks for June 17, 2019
HUN
Jun 17, 2019 | 05:57 EDT
Jefferies analyst Laurence Alexander lowered his price target for Huntsman to $30 from $33 saying auto manufacturer demand, Asia margins, European industrial activity and U.S. destocking will likely all act as incremental headwinds in the second half of 2019. The analyst reduced his 2019 earnings per share estimate for Huntsman to $2.65 from $2.75 and 2020 estimate to $3.05 from $3.40. The demand recovery in China likely stalled out with the escalation of the trade war, Alexander tells investors in a research note. But even with a more cautious stance on 2020, the analyst still forecasts a 14% average free cash flow yield through 2022. As such, he keeps a Buy rating on Huntsman.