Citi raised the firm’s price target on Eastman Chemical (EMN) to $70 from $68 and keeps a Buy rating on the shares as part of a Q3 earnings preview for the commodity chemicals group. The firm reduced Q3 and Q4 EBITDA estimates by up to 12% citing weak seasonal demand growth and inventory surplus.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EMN:
- Eastman Chemical: Buy Rating Amid Near-Term Challenges and Long-Term Growth Potential
- Eastman Chemical price target raised to $80 from $70 at Wells Fargo
- Eastman Chemical sees Q3 adjusted EPS ‘bit lower’ than $1.25, consensus $1.25
- Eastman Chemical down 4% after issuing guidance at Morgan Stanley conference
- Early notable gainers among liquid option names on August 29th