Jefferies Upgrades Huntsman Corp. to “Buy” (HUN)

Due to a number of tailwinds that should benefit Huntsman Corporation (HUN) over the next two years, analysts at Jefferies upgraded the chemical products manufacturer on Monday.

The analysts upgraded HUN from “Hold” to “Buy” and now see shares reaching $26, up from the previous target of $20. This new price target suggests a 35% upside to the stock’s Friday closing price of $19.27.

“Tailwinds into 2014-2015 (butane, new PO/MTBE JV, productivity, better FCF profile, EU footprint), recent relative performance and relative valuation support outperformance into 1H14 even with a neutral resolution on TiO2,” Jefferies analyst Laurence Alexander noted regarding Huntsman Corp.’s future performance.

Huntsman Corporation shares were up 48 cents, or 2.49%, during pre-market trading on Monday. The stock is up 21.19% year-to-date.