KeyBanc raised its price target on Huntsman (HUN) to $13 from $12 while maintaining an Overweight rating. The stock currently trades at $9.45.
The firm values synergies from Huntsman's pending merger with OLN at $6 per share on a net present value basis. The merger is expected to close in two to three months.
KeyBanc cited Huntsman's better-than-expected third-quarter results and noted that fourth-quarter earnings are not falling off a cliff despite weakening MDI fundamentals. The stock has shown a strong one-month return but remains down 36 over the past six months.
In third-quarter 2026 results, Huntsman reported earnings per share of $0.04, falling short of the $0.07 analyst consensus. Revenue reached $1.72 billion, exceeding the $1.61 billion forecast. The company targets over $100 million in EBITDA improvement in 2026 through cost reductions and operational improvements.
Jefferies initiated coverage with a Buy rating and set a price target of $12.00. Jefferies projects fourth-quarter EBITDA between $60 million and $80 million.
Huntsman faces spiking input and energy costs in the current quarter. The company has maintained dividend payments for 20 consecutive years, currently yielding 3.7%.
Investors monitoring HUN should watch for merger close confirmation within the two to three month timeframe and track fourth-quarter EBITDA results against the $60 million to $80 million Jefferies projection.