Eastman Chemical’s “Buy” Rating Reaffirmed at Deutsche Bank (EMN)
Eastman Chemical (NYSE:EMN)‘s stock had its “buy” rating restated by Deutsche Bank in a research note issued on Friday, Analyst Ratings News reports. They currently have a $100.00 price objective on the stock. Deutsche Bank’s price objective would indicate a potential upside of 21.68% from the company’s current price.
Shares of Eastman Chemical (NYSE:EMN) traded down 5.27% during mid-day trading on Friday, hitting $77.85. 5,608,792 shares of the company’s stock traded hands. Eastman Chemical has a 1-year low of $52.93 and a 1-year high of $82.91. The stock has a 50-day moving average of $78.45 and a 200-day moving average of $72.65. The company has a market cap of $12.003 billion and a P/E ratio of 21.12.
Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Friday, October 25th. The company reported $1.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.64 by $0.04. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the company posted $1.57 earnings per share. Eastman Chemical’s revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that Eastman Chemical will post $6.48 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on EMN. Analysts at Goldman Sachs Group Inc. downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating in a research note to investors on Friday. They now have a $89.00 price target on the stock, down previously from $93.00. Separately, analysts at Cowen and Company raised their price target on shares of Eastman Chemical from $75.00 to $88.00 in a research note to investors on Thursday, September 5th. They now have an “outperform” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Eastman Chemical from $75.00 to $88.00 in a research note to investors on Thursday, September 5th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $85.07.
Eastman Chemical Company (NYSE:EMN) is a global specialty chemicals company that produces a range of advanced materials, chemicals and fibers that are found in products people use every day.
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