UBS Financial Raises Eastman Chemical to 'Buy'
UBS Financial upgraded Eastman Chemical (EMN ) to buy from neutral. Analyst Andy Cash says he believes CEO Brian Ferguson, with board support, will restructure the underperforming CASPI businesses, which have been a drag on condolidated EPS. He says EMN's earnings bottomed-out with the convergence of 1) money losing acquisitions; 2) high, volatile hydrocarbon costs; 3) large increases in PET capacity.
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