Eastman Chemical price target raised to $93 from $91 at UBS

UBS raised the firm’s price target on Eastman Chemical to $93 from $91 and keeps a Neutral rating on the shares. The company’s Q4 results were in line and its initial guidance for FY24 was a “slight miss”, though it is likely nearing the end of the worst of volume declines, the analyst tells investors in a research note. UBS adds that Eastman Chemical’s guide is likely “credible” and that the company’s earnings should lift as destocking abates and as production normalizes to demand.