Huntsman price target raised to $13 from $10 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the firm’s price target on Huntsman (HUN) to $13 from $10 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q4 for Commodity Chemicals. The company’s portfolio transformation, earnings power, and reduced exposure to more cyclical/lower-multiple businesses are positives, although the current unprecedented weaker demand environment warrants a multiple near the high end of its historical range due to severe near-term earnings pressure and a delayed recovery, the analyst tells investors in a research note.