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via seekingalpha.comMarkets

J.P. Morgan downgrades Eastman Chemical to Neutral with $66 target

FROM THE WIRE · SEEKINGALPHA.COM

[Petrochemical plant at twilight] Bim/E+ via Getty Images Eastman Chemical (EMN [https://seekingalpha.com/symbol/EMN]) slipped 2.6% in Friday's trading as J.P. Morgan downgraded the specialty chemicals company to Neutral from Overweight with a $66 price target, lowered from $82…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe downgrade on less favorable petrochemical spreads affects the company's EBITDA outlook.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Eastman Chemical slipped 2.6% after J.P. Morgan's downgrade.
  2. 02The price target was lowered to $66 from $82.
  3. 03The propane-propylene spread narrowed to about $0.02 per pound from $0.11 in August.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Eastman Chemical CompanyEMNStock62.33 USDMarket closedtoday -2.41%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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