KeyBanc analyst Aleksey Yefremov lowered the firm’s price target on Eastman Chemical (EMN) to $106 from $120 and keeps an Overweight rating on the shares. The firm notes the company’s Q1 update included a few worse than expected items related to U.S.-China tariffs, primarily involving Eastman’s direct shipments from the U.S. to China and initial direct effect of the tariff on its clients in Fibers, AM, and A&FP. KeyBanc is cutting EPS by 5% vs. its latest forecast and 14% vs. Eastman’s initial pre-tariff 2025 guidance.
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