Mizuho lowered the firm’s price target on Eastman Chemical to $78 from $84 and keeps a Neutral rating on the shares. The analyst sees longer-term positives for Eastman based on the overall stability of the portfolio, optionality from molecular recycling projects, and the renegotiation of the Acetate Tow contracts, with Q2 likely marking the bottom. However, the firm sees continued de-stocking, normalizing inventory levels and weaker end-market demand weighing on the near-term outlook and driving volatility.
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