Goldman Sachs Raises Huntsman Corporation Price Target To $18

In a report released this morning, Goldman Sachs said that it is reiterating its Conviction Buy and is raising its 12-month target price to $18 (+$2) on shares of Huntsman Corporation HUN. “We are raising our 2010/2011/2012 EPS estimates to $0.69/$1.45/ $1.85 from $0.49/$1.00/$1.33 and EBITDA estimates to $868 mn/$1,154 mn/ $1,300 mn from $802 mn/$995 mn/$1,117 mn,” Goldman Sachs writes. Goldman Sachs said that its new estimates are based on rebounding volumes and higher pricing translating into stronger margins above our previous expectations, particularly in the Polyurethanes and Pigments segments. Huntsman Corporation currently trades at $13.64.