Huntsman (HUN) PT Raised to $40 at Jefferies on Higher Margins in 2Q
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Jefferies analyst Laurence Alexander raised the price target on Huntsman (NYSE: HUN) to $40.00 (from $35.00) on the belief that improved margins will carry into 2Q.
The analyst reiterated a Buy rating, stating "Although the extreme weather conditions are a Q1 headwind due to lost volumes and higher shipping costs, improved MDI pricing will provide an offset. Improved pricing should linger into Q2, and an overall economic recovery will likely bolster sales and EBITDA into 2022. The company will also continue to use M&A to purchase intermediate chemical businesses. The ROIC on the recent acquisitions ranged from 8-13%, and the ROIC on buybacks is estimated ~8.7%".
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