Key Points Q2’24 EBITDA beat; midpoint of Q3'24 guidance below consensus Pricing weakness observed across all segments (y-o-y) but volumes rose y-o-y in every segment; near-term commentary mixed We rate Huntsman shares Overweight,...
Key Points We’re updating our forecast for HII post last week’s 2Q24 earnings report, raising our target price and reiterating our Overweight rating on the shares. Our topline forecast for 2024/25 increases...
Key Points Recent share price selloff overdone with shares already trading below trough valuation levels Fundamentals inflecting up with trough, mid-cycle, and peak earnings power underestimated by investors, in our view We rate...
Key Points We’re reiterating our Overweight rating on shares of RBC after Friday’s solid 2Q earnings release, though we’re making a modest reduction in our forecast (~2% lower EBITDA) and target...
Key Points Q2'23 EBITDA miss and EPS beat Near-term outlook commentary relatively positive We rate LYB shares Neutral; our 12-month target price is USD105 per share Summary LyondellBasell announced Q2’24 results this morning: Recurring EBITDA...
Key Points We’re updating our forecast for Boeing post Wednesday's 2Q24 earnings report and maintaining our Overweight rating, but we’re lowering our target price by USD5 to USD225. Our terminal multiple remains...
Key Points Q2'24 EBITDA and EPS miss on lower plant operating rates (and associated higher costs) Q3’24 EBITDA guidance below consensus We rate Tronox shares Overweight; our 12-month target price is USD25 per...
Key Points Q2’24 EBITDA and EPS miss on q-o-q pricing declines Q3’24 guidance below consensus We rate CC shares Overweight, with a 12-month target price of USD35 per share Summary Chemours announced Q2’24 earnings after...