Huntsman price target lowered to $22 from $25 at Wells Fargo

Wells Fargo lowered the firm’s price target on Huntsman (HUN) to $22 from $25 and keeps an Overweight rating on the shares. The firm sees Polyurethanes earnings as near trough, with significant leverage to a construction recovery. Further, Wells sees potential mid-cycle EBITDA of $700M with its new price target reflecting about 8-turns mid-cycle EBITDA.