2026년 2월 20일 · Unknown · financial · 출처 Seeking Alpha
[Petrochemical Plant Illuminated at Dusk]
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Huntsman (HUN [https://seekingalpha.com/symbol/HUN]) -4.2% in Thursday's trading as J.P. Morgan downgraded the chemicals manufacturer to Neutral from Overweight with a $14 price target, saying the current share price now reasonably discounts a meaningful recovery in its EBITDA over a multi-year period.
JPM analyst Jeffrey Zekauskas noted the polyurethanes business, which accounts for more than half of Huntsman's (HUN [https://seekingalpha.com/symbol/HUN]) EBITDA, has significant exposure to construction end markets, which have been challenged due to higher interest rates, supply additions, and slower global economic growth.
The analyst said he had believed business conditions would reach a trough in the 2023-24 period, but 2025 was challenged by a backdrop of increased economic and tariff uncertainty, and the company is now looking to 2026 for a recovery.
Huntsman's (HUN [https://seekingalpha.com/symbol/HUN]) value has historically sharply lifted in environments of declining interest rates and accelerating economic activity, and Zekauskas said there should be room for price and volume gains if growth accelerates in the domestic economy.
Huntsman (HUN [https://seekingalpha.com/symbol/HUN]) is under-earning and can sharply move up in value with some strength from the construction sector or from lower interest rates, the analyst said.
MORE ON HUNTSMAN
* Huntsman Q4 2025 Earnings Call Presentation [https://seekingalpha.com/article/4871512-huntsman-corporation-2025-q4-results-earnings-call-presentation]
* Huntsman Bull Case: A Lot Has To Go Right But It Is In The Realm Of Possibilities [https://seekingalpha.com/article/4862767-huntsman-corp-bull-case-a-lot-has-to-go-right-but-it-is-in-the-realm-of-possibilities]
* Huntsman: Balance Sheet Takes Priority Over The Dividend [https://seekingalpha.com/article/4839892-huntsman-balance-sheet-takes-priority-over-the-dividend]