Bank of America Forecasts Strong Price Appreciation for Eastman Chemical (NYSE:EMN) Stock

Eastman Chemical (NYSE:EMN) had its target price hoisted by investment analysts at Bank of America from $74.00 to $79.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price objective would suggest a potential upside of 4.00% from the company’s previous close.

Several other brokerages also recently weighed in on EMN. Evercore ISI cut their price target on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. KeyCorp dropped their target price on Eastman Chemical from $76.00 to $74.00 and set an “overweight” rating for the company in a research note on Friday, January 9th. Royal Bank Of Canada downgraded Eastman Chemical from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $74.00 to $70.00 in a research report on Friday, January 16th. UBS Group lowered their price target on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Eastman Chemical from $64.00 to $72.00 and gave the stock a “hold” rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.21.

Eastman Chemical Trading Up 6.3%

Shares of EMN stock opened at $75.96 on Monday. Eastman Chemical has a twelve month low of $56.11 and a twelve month high of $103.82. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 7.11 and a beta of 1.23. The firm has a 50-day moving average price of $65.56 and a 200 day moving average price of $64.94. The company has a current ratio of 1.76, a quick ratio of 0.86 and a debt-to-equity ratio of 0.82.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.63%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. Research analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eastman Chemical

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Eastman Chemical by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock valued at $1,094,485,000 after acquiring an additional 79,988 shares during the period. State Street Corp increased its holdings in Eastman Chemical by 24.3% in the 3rd quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock valued at $363,314,000 after purchasing an additional 1,112,391 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Eastman Chemical by 14.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,052,656 shares of the basic materials company’s stock valued at $255,515,000 after purchasing an additional 509,290 shares during the period. Invesco Ltd. lifted its stake in shares of Eastman Chemical by 6.8% during the second quarter. Invesco Ltd. now owns 2,993,687 shares of the basic materials company’s stock worth $223,509,000 after purchasing an additional 191,461 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Eastman Chemical by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,955,625 shares of the basic materials company’s stock worth $220,252,000 after buying an additional 39,510 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical News Summary

Here are the key news stories impacting Eastman Chemical this week:

• Positive Sentiment: Citigroup raised its price target to $78 and kept a “buy” rating, signaling incremental analyst conviction that EMN has upside. Article Title
• Positive Sentiment: Bank of America increased its target to $79 and maintained a “buy” rating, reinforcing bullish sentiment from another large shop. Article Title
• Positive Sentiment: Seeking Alpha published a bullish note arguing results have bottomed; it highlights cost cuts, the Kingsport ramp-up, solid free cash flow and a 4.8% dividend yield as reasons EMN can recover. That thematic bullishness likely supported today’s buying. Eastman Chemical: Confidence Grows As Results Have Bottomed
• Neutral Sentiment: Zacks ran a piece on Eastman’s reliance on international sales — useful context for investors assessing growth drivers and risk from Chinese exports and FX, but not an immediate catalyst. Article Title
• Negative Sentiment: JPMorgan raised its target to $70 but keeps an “overweight” stance; the new target remains below the current price, which may temper further upside and suggests some analysts see limited short-term upside. Article Title
• Negative Sentiment: Deutsche Bank boosted its target to $72 but stayed at “hold”; that target also implies downside from the current level and highlights continuing caution among some analysts. Article Title

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.