Scotiabank analyst Ben Isaacson downgraded Eastman Chemical to Sector Perform from Outperform with a price target of $90, down from $100. The analyst believes Eastman has a low likelihood for share outperformance in the near term. The firm does not see earnings growth through 2024, after accounting for self-help measures and expects some lower raw materials and energy tailwinds in Q2. As such, the stock could be range-bound, Scotiabank tells investors in a research note.
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Published first on TheFly
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