Huntsman downgraded to Underperform from Neutral at Mizuho

Mizuho downgraded Huntsman (HUN) to Underperform from Neutral with a price target of $9, down from $11. The shares are up 20% since the company’s earnings report but could retest the lows since industry fundamentals have not improved, the analyst tells investors in a research note. The firm believes Huntsman is facing significant competition from U.S. imports of polyurethane methylene diphenyl diisocyanate from overseas competition, primarily China. The company also serves durables markets, which are “particularly weak,” adds Mizuho.