UBS analyst Joshua Spector lowered the firm’s price target on Eastman Chemical (EMN) to $115 from $123 and keeps a Buy rating on the shares. The firm sees another challenging earnings cycle, with “largely ok” downstream earnings, while upstream/commodity earnings will be impacted by higher costs and likely weaker end of quarter demand, the analyst tells investors in a research note. UBS sees earnings misses to drive stocks down vs. provide relief.
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