In a report issued on May 1, David Begleiter from Deutsche Bank reiterated a Buy rating on Huntsman (HUN), with a price target of $34.00. The company’s shares closed last Friday at $28.67, close to its 52-week high of $29.79.
According to TipRanks.com, Begleiter is a 5-star analyst with an average return of 16.5% and a 75.4% success rate. Begleiter covers the Basic Materials sector, focusing on stocks such as Compass Minerals International, Air Products and Chemicals, and Sherwin-Williams Company.
Huntsman has an analyst consensus of Strong Buy, with a price target consensus of $35.13, representing a 22.1% upside. In a report issued on April 16, RBC Capital also maintained a Buy rating on the stock with a $37.00 price target.
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Based on Huntsman’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.67 billion and net profit of $343 million. In comparison, last year the company earned revenue of $1.66 billion and had a net profit of $303 million.
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Huntsman Corp. engages in the manufacturing of chemicals for the plastics, automotive and construction industries. It operates through the following segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment manufactures and markets polyurethane chemicals, including MDI products, PO, polyols, PG, TPU, aniline, and MTBE. The Performance Products segment produces and sells amines, surfactants, LAB, and maleic anhydride to a variety of consumer and industrial end markets. The Advanced Materials segment provides basic liquid and solid epoxy resins, specialty resin compounds, cross linking, matting and curing agents, epoxy, acrylic, and polyurethane based polymer products. The Textile Effects segment consists market share for textile chemicals and dyes. Its products include Methoxypropylamine, Isocyanate, Nonylphenol, and Alkylalkanolamines. The company was founded by Jon Meade Huntsman Sr. in 1970 and is headquartered in The Woodlands, TX.