Eastman Chemical price target lowered to $115 from $125 at Morgan Stanley

Morgan Stanley analyst Vincent Andrews lowered the firm’s price target on Eastman Chemical (EMN) to $115 from $125 and keeps an Overweight rating on the shares. Following the Q1 results and outlook, the firm reduced estimates as the tough macro environment and tariff headwinds have caused a step back for both the core business and the company’s methanolysis recycling volume penetration, the analyst tells investors. The firm, however, continues to expect the company’s recycled product to find a home as macro and trade clouds ultimately subside and expects Eastman to “hold up better than most,” the analyst added.