As previously reported, Mizuho upgraded Huntsman (HUN) to Neutral from Underperform with a price target of $14, up from $10, after the company announced a merger of equals with Olin (OLN). Since Huntsman stock should now be linked with Olin stock, the firm is raising its rating to be consistent with the Neutral rating on Olin, the analyst tells investors in a research note. Olin has more of a relative cost advantage in its U.S. gas-advantaged chlorine/caustic & ethylene positions, while Huntsman is more differentiated in its downstream polyurethane & epoxy positions, the firm added.

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