Mizuho upgraded Eastman Chemical (EMN) to Outperform from Neutral with a $105 price target Forward earnings estimates have been rolling higher in recent quarters, and unlike most of the basic chemical stocks under the firm’s coverage, Eastman has more assets exposed to a U.S. cost advantage, the analyst tells investors in a research note. The company’s leadership in circular plastics is also turning from startup losses to modestly profitable, Mizuho adds.
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