New York, Feb 19, 2026, 10:15 EST — Regular session
- JPMorgan cut its rating, sending Huntsman shares down roughly 2.5% early this day.
- The stock surged last session after investors weighed quarterly earnings along with a dividend.
- Attention swings to valuation, cash flows, and any sign the chemical cycle might be picking up.
Huntsman Corp (HUN.N) slipped 2.5% to $13.08 Thursday morning, handing back a chunk of its previous rally after Wall Street flagged new concerns.
This shift is significant: Huntsman shares have already jumped as investors bet the chemicals slump is easing. That sets up a tighter margin for disappointment if demand doesn’t pick up. Cyclicals like this can swing sharply on even modest shifts in price or volume.
JPMorgan Chase & Co. cut Huntsman to “neutral” from “overweight,” even as it bumped the price target up to $14 from $11. The brokerage said the stock already factors in a “fair amount” of recovery. Analyst Jeffrey Zekauskas cited valuation multiples based on projected EBITDA — that’s earnings before interest, taxes, depreciation and amortization — and called Huntsman at least fairly valued at these prices. Investing.com India
Huntsman swung to a net loss of $96 million for the fourth quarter, with revenue down to $1.355 billion. Adjusted EBITDA slid to $35 million, less than half the $71 million recorded a year ago. The company pointed to $1.3 billion in combined cash and undrawn credit at the end of the year, and expects 2026 capital expenditures to stay in line with 2025.
Peter R. Huntsman, the company’s chief executive, said Huntsman has been focused on “restructuring our business and generating cash” during the downturn, with “prioritizing cash management” remaining a key strategy as it waits for market conditions to turn. Huntsman Corporation
The board signed off on a $0.0875 per-share quarterly dividend, with payment scheduled for March 31 to holders registered by March 13. The annual meeting lands on April 29, and this year it’ll be entirely virtual.
Shares of Huntsman finished Wednesday at $13.41, climbing roughly 8.6% from Tuesday’s $12.35 close. Volume was strong following the company’s earnings release and dividend announcement.
The backdrop’s still choppy. The company pointed to softer pricing, more competition, and patchy demand across parts of its portfolio—polyurethanes among them, where MDI margins took a hit.
One thing bulls have to watch: if the chemical cycle drags out or pricing pressure ramps up, that cash narrative might not cut it to justify the higher valuation after Wednesday’s pop.
Markets will be listening for any additional detail when management takes the stage at investor events, beginning with Bank of America Securities’ Global Agriculture and Materials Conference on Feb. 25. Traders are also keyed in for updates on demand and pricing as the quarter progresses.
