KeyBanc raised the firm’s price target on Eastman Chemical to $106 from $96 on stronger earnings, while keeping an Overweight rating on the shares. The firm notes the company’s Q1 results and reaffirmed 2023 guidance came as a positive surprise for investors and led to outperformance on Friday. The new trajectory of the first half of the year results now implies a less steep climb in the second half, compared to the prior view, KeyBanc adds.
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