Citi upgrades Eastman on relatively better position amid tariffs

Citi analyst Patrick Cunningham upgraded Eastman Chemical (EMN) to Buy from Neutral with a price target of $101, down from $105. The company is in a relatively better position amid the tariff uncerintaty with solid growth from innovation-driven platforms helping offset near-term pressure, the analyst tells investors in a research note. The firm believes Eastman has potential for more stable growth profile despite the backdrop of consumer and industrial uncertainty. The company’s path to modest earnings growth is achievable with $50M in cost reduction actions and better operating performance from methanolysis, contends Citi.