
As the commodity market shifts to an environment of stagflation and U.S. economic recession risks rise, Bank of America adjusted its coverage of chemical stocks on Tuesday.
The Analyst: Analyst Steve Byrne downgraded Chemours Co. (NYSE:CC) from Buy to Neutral and slashed his price target from $48 to $44. Byrne also double-downgraded Huntsman Corporation (NYSE:HUN) from Buy to Underperform and cut his price target from $45 to $34.