Huntsman upgraded to Conviction Buy from Buy at Goldman Goldman added Huntsman to the Conviction Buy List based on an improving margin profile, better earnings quality and visibility, and leverage to a global cyclical recovery. Shares are Buy rated with a $32 price target.
Huntsman sees FY14 CapEx $550M Sees FY15 base CapEx about $525M. Sees FY effective tax rate 30%. Says plans to refinance debt as practical. Says confident in ability to deliver $130M in annual synergies from acquisition of Rockwood (ROC) units. Looks to achieve $2B of EBITDA within next few years. Comments made on the Q3 earnings conference call. Huntsman shares are down 5.06% to $23.24 in morning trading.