UBS upgraded Eastman Chemical to Buy from Neutral with a price target of $128, up from $106. The company’s Q1 earnings provided evidence that its 2024 expectations are conservative, the analyst tells investors in a research note. The firm sees higher growth into 2025 with upside risk on restocking, and sees Eastman’s advanced plastics recycling investments as additive to earnings and growth. UBS expects the stock to grind higher with earnings, and sees re-rating potential as the company’s plastics recycling investments gain traction.
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Read More on EMN:
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- Eastman Chemical upgraded to Buy from Hold at Jefferies
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