Fly News Breaks for September 23, 2019
News For HUN From the Last 2 Days
Nov 18, 2019 | 05:05 EST
Goldman Sachs analyst Robert Koort added Huntsman to his firm's Americas Conviction List while keeping a Buy rating on the shares with an unchanged price target of $29. The stock's current multiple overlooks the portfolio and balance sheet transformation that has occurred over the last five years, Koort tells investors in a research note. Despite a "markedly improved" business mix, which offers more defensive characteristics relative to prior cycles, Huntsman continues to trade in a manner consistent with its historical trading range, says the analyst. Further, he believes Chemicals investor sentiment is "relatively somber," which could present a "compelling buying opportunity" for the space should the current industrial cycle mirror the 2016 period and not decelerate more dramatically to 2009 levels.