Goldman Cuts Price Targets on Stocks in Chemical Universe Another 9%

Goldman is getting a little more bearish on stocks in the Chemical sector Tuesday as the firm sees slower growth and greater risk having a steeper impact on earnings than originally forecast in mid August. On average, the firm cut its 2012 earnings per share estimate by 4 percent and price targets by 9 percent.

The firm removed Huntsman Corp. (NYSE: HUN) from its Conviction Buy List as the company now sees a better risk/reward store in shares of Monsanto Company (NYSE: MON) and Airgas Inc. (NYSE: ARG).

Goldman reduced price targets on the following stocks:

• Albemarle Corp. (NYSE: ALB) from $63 to $50, maintains Neutral
  
• Celanese Corp. (NYSE: CE) from $53 to $48, maintains Buy
  
• Cytec Industries (NYSE: CYT) from $48 to $40, maintains Sell
  
• Du Pont (NYSE: DD) from $53 to $51, maintains Neutral
  
• Dow Chemical (NYSE: DOW) from $32 to $28, maintains Neutral
  
• Eastman Chemical (NYSE: EMN) from $89 to $76, maintains Sell
  
• Georgia Gulf Corp. (NYSE: GGC) from $21 to $17, maintains Neutral
  
• Huntsman Corp. (NYSE: HUN) from $16 to $14, maintains Buy
  
• Kraton Performance Inc. (NYSE: KRA) from $27 to $19, maintains Neutral
  
• LyondellBasell Industries (NYSE: LYB) from $38 to $34, maintains Neutral
  
• PPG Industries (NYSE: PPG) from $98 to $94, maintains Buy
  
• Rockwood Holdings (NYSE: ROC) from $54 to $48, maintains Neutral
  
• Westlake Chemical (NYSE: WLK) from $46 to $40, maintains Neutral

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