RBC Capital analyst Arun Viswanathan lowered the firm’s price target on Eastman Chemical to $89 from $91 and keeps a Sector Perform rating on the shares after its Q4 results. The company’s destocking is expected to ease through the year, though near-term weakness and FY24 bridge items are pointing to a slower recovery in company earnings, the analyst tells investors in a research note. RBC adds that it sees the stock as “fairly valued at current trading levels”.
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Read More on EMN:
- Eastman Chemical price target lowered to $91 from $95 at Mizuho
- Eastman Chemical price target raised to $93 from $91 at UBS
- Eastman Chemical sees FY24 EPS $7.25-$8.00, consensus $7.85
- Eastman Chemical reports Q4 adjusted EPS $1.31, consensus $1.30
- Eastman Chemical options imply 2.7% move in share price post-earnings
