BUZZ-J.P.Morgan double-upgrades Huntsman to 'overweight'

Reuters06-07

** J.P.Morgan double-upgrades chemical maker Huntsman Corp

to "overweight" from "underweight", says share value has reached cyclical bottom

** Huntsman's share price seems to have found a floor near the current price over a five-year period, with the exception of the 2020 downturn - JPM

** There is ample room for above-average capital appreciation over a longer period of time from this price-point - JPM

** Notes company's EBITDA has significant exposure to construction-end markets, which is challenged by higher interest rates and slower global growth

** Price target raised to $27 from $22, representing ~14% upside to last close

** Seven of 19 brokerages rate the stock "buy" or higher, 10 "hold" and two "sell"; their median PT is $28 - LSEG

** Up to Thursday's close, HUN down ~6% YTD

(Reporting by Roshan Abraham)

((Roshan.Abraham@thomsonreuters.com))

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