Eastman Chemical price target lowered to $96 from $98 at KeyBanc

KeyBanc analyst Aleksey Yefremov lowered the firm’s price target on Eastman Chemical to $96 from $98 and keeps an Overweight rating on the shares. Eastman believes destocking is now likely to be complete by the end of Q1/early Q2 but highlighted building and construction as the biggest question mark at the current juncture, the analyst tells investors in a research note. The firm continues to believe in the longer-term earnings potential of the Eastman portfolio and the ramp of its methanolysis project.