Report
David Wang, CFA
EUR 101.80 For Business Accounts Only

Capacity additions overshadow demand growth in Huntsman's key commodity chemicals.

We are raising our fair value estimates for titanium dioxide producers Chemours and Huntsman after a string of price increase announcements. Price realizations have been rising since late 2016 as announced increases took effect. A slower build-out of new Chinese TiO2 capacity and cuts of existing capacity have led to a tighter market than we previously expected. We've raised our midcycle titanium dioxide price forecast to $3,250 per metric ton (in nominal terms) from $2,500 previously. Because o...
Underlying
Huntsman Corporation

Huntsman is a manufacturer of organic chemical products. The company's products are used in a range of applications, including those in the adhesives, aerospace, automotive, construction products, personal care and hygiene, durable and non-durable consumer products, digital inks, electronics, insulation, medical, packaging, coatings and construction, power generation, refining, synthetic fiber, textile chemicals and dyes industries. The company's primary product lines include methyl diphenyl diisocyanate, amines, maleic anhydride, epoxy-based polymer formulations, textile chemicals and dyes. The company's segments are: Polyurethanes, Performance Products, Advanced Materials and Textile Effects.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Wang, CFA

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