UPDATE: KeyBanc Downgrades Huntsman (HUN) to Sector Weight

KeyBanc analyst Aleksey Yefremov downgraded Huntsman (NYSE: HUN) from Overweight to Sector Weight.

The analyst comments "Following three consecutive quarterly beats and the stock's outperformance, we are moving HUN to Sector Weight given: 1) elevated exposure to EMEA (27% of sales and 40% of HUN's MDI capacity), including Russia/Ukraine ($150M / 1.6%); 2) rising raw materials putting PU and AM margins at risk, at least in the NT; 3) more modest auto recovery in '22 (IHS recently revised global auto builds down by 3%); 4) Construction and MDI markets remain weak in China; 5) Risks to consumer durables demand given accelerating inflation and lagging real incomes."

For an analyst ratings summary and ratings history on Huntsman click here. For more ratings news on Huntsman click here.

Shares of Huntsman closed at $39.43 yesterday.

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