Eastman Chemical (EMN) PT Lowered to $74 at RBC Capital

RBC Capital analyst Arun Viswanathan lowered the price target on Eastman Chemical (NYSE: EMN) to $74.00 (from $91.00) while maintaining an Outperform rating.

The analyst commented: "Lowering Near-Term Estimates on Destock; While EMN's Q2 miss and a lower Q3 guide ($1.25 in EPS vs $1.60 in Q2, mostly on inventory destocking), we think next year is still likely to see a material step-up given 1) abating utilization headwinds of ~$75-100M in 2H25; 2) full-year contribution of EMN's ~$75M cost-reduction plan (and potential additional cost-outs in 2026), and 3) full-year contribution from ramped capacity. We are lowering our Q3/ FY25/FY26 EBITDA estimates to $355M/$1.545B/$1.70B from $460M/$1.725B/$1.85B, and our PT to $74 (from $91) on a lower 7.5x (from 8.0x) FY26 but maintain our Outperform rating."

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