Huntsman Reports Decent Third Quarter; Raising FVE to $11 on Better Short-Term Outlook
No-moat Huntsman reported decent third-quarter results with cash flow generation tracking higher than management’s previous expectations. We have raised our short-term cash flow projections, based on a better-than-expected near-term outlook for TiO2 and MDI. We are increasing our fair value estimate to $11 per share from $10 per share, as the company’s high financial leverage magnifies the impact of small changes in cash flows on the residual equity value of the company.The company has also ann...
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.
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.
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