RBC Capital lowered the firm’s price target on Eastman Chemical (EMN) to $71 from $74 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for Chemicals companies. Recent conversations with the industry’s Investor Relations teams have generally indicated that demand has remained somewhat tepid through Q3, the analyst tells investors in a research note. Building and Construction activity has been somewhat muted, and while rate cuts could help, a weak job market remains a headwind to new home starts and existing turnover, RBC added. Demand for consumer durables also has yet to see a material recovery, the firm states.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EMN:
- Eastman Chemical price target lowered to $74 from $78 at BofA
- Eastman Chemical Announces Leadership Transition Plan
- Eastman Chemical price target lowered to $75 from $86 at UBS
- Eastman Chemical price target lowered to $75 from $80 at Mizuho
- Eastman Chemical price target raised to $70 from $68 at Citi