JPMorgan Chase & Co. Boosts Eastman Chemical (NYSE:EMN) Price Target to $70.00

Eastman Chemical (NYSE:EMN) had its price target hoisted by analysts at JPMorgan Chase & Co. from $60.00 to $70.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 7.85% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Eastman Chemical from $64.00 to $72.00 and gave the company a “hold” rating in a report on Monday. Evercore ISI cut their price objective on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Citigroup upped their target price on Eastman Chemical from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. KeyCorp reiterated an “overweight” rating on shares of Eastman Chemical in a report on Monday. Finally, UBS Group reduced their price objective on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.21.

Eastman Chemical Price Performance

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

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.03 billion. Eastman Chemical had a return on equity of 10.63% and a net margin of 5.42%.The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 EPS. As a group, research analysts expect that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Institutional Trading of Eastman Chemical

A number of hedge funds have recently bought and sold shares of EMN. Brighton Jones LLC acquired a new position in shares of Eastman Chemical during the fourth quarter valued at about $202,000. Integrated Wealth Concepts LLC increased its stake in Eastman Chemical by 185.6% during the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock valued at $589,000 after acquiring an additional 4,345 shares during the period. Millennium Management LLC raised its holdings in Eastman Chemical by 69.2% in the 1st quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock valued at $17,098,000 after acquiring an additional 79,376 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Eastman Chemical by 2.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 183 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of Eastman Chemical during the 1st quarter worth approximately $252,000. 83.65% of the stock is owned by institutional investors.

Key Stories Impacting Eastman Chemical

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

About Eastman Chemical

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.