There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Huntsman (HUN) and Summit Materials (SUM) with bullish sentiments.
Huntsman (HUN)
In a report released today, Laurence Alexander from Jefferies maintained a Buy rating on Huntsman, with a price target of $40.00. The company’s shares closed last Tuesday at $27.65, close to its 52-week high of $29.49.
According to TipRanks.com, Alexander is a 5-star analyst with an average return of 15.0% and a 68.6% success rate. Alexander covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, LyondellBasell, and Green Plains.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Huntsman with a $34.20 average price target.
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Summit Materials (SUM)
Jefferies analyst Philip Ng maintained a Buy rating on Summit Materials yesterday and set a price target of $33.00. The company’s shares closed last Tuesday at $28.70, close to its 52-week high of $31.00.
According to TipRanks.com, Ng is a 5-star analyst with an average return of 15.5% and a 72.0% success rate. Ng covers the Basic Materials sector, focusing on stocks such as International Paper Co, Graphic Packaging, and Eagle Materials.
Currently, the analyst consensus on Summit Materials is a Moderate Buy with an average price target of $29.07.
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