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Fly News Breaks for October 5, 2018
EMN
Oct 5, 2018 | 06:53 EDT
JPMorgan analyst Jeffrey Zekauskas downgraded Eastman Chemical to Neutral and lowered his price target for the shares to $105 from $120. The analyst believes raw material trends will probably pressure the company's year-ahead results. Eastman will begin to face raw material challenges because of rising propane, para-xylene, and ethane costs, Zekauskas tells investors in a research note. Further, the analyst believes consensus estimates for the company's 2019 EBITDA and earnings growth are high.
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