Huntsman price target lowered to $25 from $26 at Wells Fargo

Wells Fargo analyst Michael Sison lowered the firm’s price target on Huntsman (HUN) to $25 from $26 and keeps an Overweight rating on the shares. The firm believes Huntsman is trading on trough earnings, with strong leverage to a housing/construction recovery if/when it materializes. Wells sees potential midcycle EBITDA of $850M with its price target reflecting 7-times mid-cycle EBITDA.