BofA lowered the firm’s price target on Eastman Chemical to $112 from $113 and keeps a Buy rating on the shares. Solid organic growth in Q1 is “poised to accelerate further,” says the analyst, who notes that Eastman guided to Q2 adjusted EPS of $2, below the firm’s going-in estimate of $2.23. However, the firm expects second half earnings to increase and more favorable below-the-line items boost its 2024 estimate to $7.80 from $7.70 previously, while it is also slightly raising its 2025-26 EBIT estimates.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EMN: