Huntsman downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Huntsman (HUN) to Neutral from Overweight with a price target of $14, up from $11. The firm cites valuation for the downgrade. Huntsman shares now discount a “fair amount of cyclical earnings recovery,” the analyst tells investors in a research note. JPMorgan thinks the stock now reasonably discounts a meaningful recovery in its EBITDA over a multi-year period following the recent rally.