Huntsman downgraded to Neutral at BofA on slower expected earnings recovery

BofA analyst Steve Byrne downgraded Huntsman (HUN) to Neutral from Buy with a price target of $15, down from $22. The firm lowered its 2025 and 2026 EBITDA growth rates to 5% and 17% from 19% and 37%, respectively, for a two-year total expansion of 23%, down from 63%, as it significantly rolled back its earnings recovery expectations. Moreover, BofA no longer expects Huntsman’s free cash flow post minority interest dividends to cover its roughly $175M dividend, the analyst tells investors.