|Over a week ago|
Huntsman downgraded to Hold from Buy at Deutsche Bank » 14:1801/1601/16/23
Deutsche Bank analyst…
Deutsche Bank analyst David Begleiter downgraded Huntsman to Hold from Buy with a price target of $33, up from $31, in conjunction with his December quarter earnings preview. Huntsman has had strong absolute and relative share price performance, with shares up 13% year-to-date and 30% since late September, noted Begleiter. He believes Huntsman's exposures to building and construction, auto and consumer markets, coupled with uncertainty around potential recessions in the U.S. and Europe, will drive management to provide cautious guidance when the company reports Q4 results in February, Begleiter tells investors.
|Over a month ago|
Huntsman price target lowered to $28 from $30 at RBC Capital » 09:2212/0112/01/22
RBC Capital analyst Arun…
RBC Capital analyst Arun Viswanathan lowered the firm's price target on Huntsman to $28 from $30 and keeps a Sector Perform rating on the shares. The analyst cites the company's anticipated accelerated destocking in Q4 and continued weak demand, particularly in Europe/China. Viswanathan adds however that Huntsman remains poised to benefit from China reopening if Covid restrictions are lifted.
Starboard takes stake in Wix.com, exits Elanco Animal Health » 17:2611/1411/14/22
WIX, SLNA, MCAC, ACAC, ELAN, CTVA, MMSI, KSS, GIA, ACAH, LGTO, ON, HUN, ACIW, MRCY, CVLT, GDDY, ACM, HUM, WTW, GEN
Jeffrey Smith's Starboard Value disclosed in an SEC filing its holdings as of September 30, 2022. Starboard's five new buys during the quarter included, by size of position, Wix.com (WIX), Selina Hospitality (SLNA), Monterey Capital Acquisition Corp (MCAC), and Acri Capital Acquisition Corp (ACAC). Starboard exited eleven positions during the quarter, including by size of previous position, Elanco Animal Health (ELAN), Corteva (CTVA), Merit Medical Systems (MMSI), Kohl's (KSS), and GigCapital5 (GIA). Starboard increased its stake in three holdings, including by size of previous position, Atlantic Coastal Acquisition (ACAH) and Legato Merger Corp II (LGTO). Starboard reduced its stake in ten holdings, including by size of previous position, ON Semiconductor (ON), Huntsman (HUN), ACI Worldwide (ACIW), Mercury Systems (MRCY), and CommVault Systems (CVLT). Starboard's top holdings as of September 30, in order of size, were GoDaddy (GDDY), Aecom (ACM), Humana (HUM), Willis Towers Watson (WTW), and Gen Digital (GEN).
Huntsman price target raised to $31 from $29 at Deutsche Bank » 08:2311/0811/08/22
Deutsche Bank analyst…
Deutsche Bank analyst David Begleiter raised the firm's price target on Huntsman to $31 from $29 and keeps a Buy rating on the shares post the Q3 results.
Huntsman downgraded to Hold from Buy at Tudor Pickering » 08:1011/0811/08/22
Tudor Pickering analyst…
Tudor Pickering analyst Matthew Blair downgraded Huntsman to Hold from Buy.
Huntsman downgraded at Scotiabank on elevated EU exposure » 09:0111/0711/07/22
As previously reported,…
As previously reported, Scotiabank analyst Ben Isaacson downgraded Huntsman to Sector Perform from Outperform with a price target of $30, down from $36, citing the significant impact of its EU asset exposure, as illustrated by its restructuring program to deal with this issue. He sees elevated execution risk and a loss in the region until the company completes bringing down MDI production rates to deal with high channel inventories, as well as elevated costs, Isaacson tells investors.
Huntsman downgraded to Sector Perform from Outperform at Scotiabank » 06:4011/0711/07/22
Scotiabank analyst Ben…
Scotiabank analyst Ben Isaacson downgraded Huntsman to Sector Perform from Outperform.
Huntsman price target raised to $31 from $29 at Citi » 19:4611/0611/06/22
Citi analyst P.J. Juvekar…
Citi analyst P.J. Juvekar raised the firm's price target on Huntsman to $31 from $29 and keeps a Buy rating on the shares post the Q3 results. The analyst reduced Q4 earnings estimates significantly driven by destocking and lower margins, while slightly raising out-year estimates, driven by Polyurethanes.
Huntsman reports Q3 adjusted EPS 71c, consensus 72c » 06:0911/0411/04/22
Reports Q3 revenue…
Reports Q3 revenue $2.01B, consensus $2.02B. Peter Huntsman, chairman, president, and CEO, commented: "Third quarter adjusted EBITDA was within our updated guidance and we delivered strong free cash flow. During the quarter, we announced an agreement to sell our Textile Effects division for a total enterprise value of $718 million. We also continued repurchasing shares and have now repurchased more than $750 million of Huntsman stock this year as we track towards our previously announced target of $1 billion for the full year. Likewise, our cost reduction plans continue to move apace and have already reached an annual run rate of approximately $160 million of the $240 million we expect to achieve by the end of 2023."
|Over a quarter ago|
Huntsman downgraded to Neutral from Buy at Seaport Global » 06:5310/1310/13/22
Seaport Global analyst…
Seaport Global analyst Michael Harrison downgraded Huntsman to Neutral from Buy without a price target. The analyst thinks the entire chemicals group could trade lower post the Q3 results as the full impact of higher interest rates and recessionary concerns are baked in. Harrison expects "higher-quality and more defensive names" to outperform. He further reduced his outlook on many companies to reflect additional downside around volume and currency expectations, with some possible offset from more favorable price/cost.