Eastman Chemical price target lowered to $78 from $82 at Fermium Research

Fermium Research lowered the firm’s price target on Eastman Chemical to $78 from $82 and keeps a Hold rating on the shares following quarterly results. “Stop us if you’ve heard this before; ‘yes, this was a difficult year, but next year will be better because of A, B, and C’,” the firm says, noting that while it’s not meaning to single Eastman out, it does have a feeling of deja vu. At the start of 2022, the Street consensus stood at $9.61 and Eastman reported $7.83. And for 2023, the Street was at $8.37 and Eastman is forecast to report $6.40. So, when the presentation and conference call offer a favorable view on 2024, it “naturally” gives Fermium pause, the firm says.