Huntsman Corporation (HUN) has entered into a joint venture with KPX Chemical, a polyols producer for polyurethanes in Korea, to offer automakers advanced polyurethane systems solutions.
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The joint venture, named KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO., LTD., will operate from a specialty polyurethanes manufacturing facility located at KPX Chemical’s Ulsan plant. (See Huntsman stock charts on TipRanks)
Expected to begin operations by October’s end, the JV will create high-performance, customized polyurethane systems and automotive solutions for vehicle manufacturers.
Tony Hankins, president of Huntsman’s Polyurethanes division, and CEO of Huntsman Asia Pacific, commented, “Korea is one of Huntsman’s key markets in Asia and driving continued business growth in the automotive industry is a priority for us.”
Hankins further added, “By creating value for its customers, KHPUA will enable downstream polyurethanes businesses to develop in a more sustainable way, both economically and environmentally.”
KeyBanc analyst Aleksey Yefremov recently reiterated a Buy rating on HUN stock with a price target of $37 (24% upside potential).
Yefremov believes that investors are underestimating the quality of the company’s upgraded portfolio, based on his recent meetings with HUN management.
Consensus among analysts is a Strong Buy based on eight unanimous Buys. The average Huntsman price target of $35.86 implies 20.2% upside potential to current levels.
HUN scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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