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Fly News Breaks for September 26, 2019
EMN
Sep 26, 2019 | 06:25 EDT
BofA/Merrill analyst Matthew DeYoe initiated Eastman Chemical with a Buy and $84 price target saying current valuation does not reflect strength in consistent cash flow generation. The analyst notes debt repayments are becoming less, which should allow cash to be returned to shareholders, and sees several levers to defend growth in a soft market. Further, significant expansion of operations throughout 2018 provides room for growth and mix improvement with little incremental spend.
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