From TokenPost · · 30s
J.P. Morgan Cuts Eastman Chemical Target
J.P. Morgan lowers Eastman Chemical's price target to $66 after cutting rating to Neutral.
In brief
J.P. Morgan lowers Eastman Chemical's price target to $66 after cutting rating to Neutral. J.P. Morgan reduced Eastman Chemical's stock target from $82 to $66 and downgraded its rating to Neutral due to weaker commodity spreads. Originally reported by TokenPost.
J.P. Morgan Rating Change
J.P. Morgan moved Eastman Chemical's rating from Overweight to Neutral.
Price Target Reduction
J.P. Morgan lowered Eastman's price target to $66 from $82.
Reason for Change
Rising propane prices and falling propylene and ethylene prices made commodity spreads less favorable.
The headline
J.P. Morgan reduced Eastman Chemical's stock target from $82 to $66 and downgraded its rating to Neutral due to weaker commodity spreads.
