In a report issued on July 28, Stephen Richardson from Evercore ISI maintained a Hold rating on Eastman Chemical (EMN – Research Report), with a price target of $110.00. The company’s shares closed last Friday at $95.93.
According to TipRanks.com, Richardson is a 4-star analyst with an average return of 8.5% and a 55.1% success rate. Richardson covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Magnolia Oil & Gas, and Canadian Natural.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eastman Chemical with a $116.79 average price target, a 23.4% upside from current levels. In a report issued on July 13, Bank of America Securities also maintained a Hold rating on the stock with a $115.00 price target.
Eastman Chemical’s market cap is currently $12.36B and has a P/E ratio of 10.43.
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Eastman Chemical Co. engages in the provision of specialty chemicals. It operates through the following segments: Additives and Functional Products, Advanced Materials, Chemical Intermediates and Fibers. The Additives and Functional Products segment includes chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets. The Advanced Materials segment produces and markets its polymers, films, and plastics with differentiated performance properties for value-added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets. The Chemical Intermediates segment consists of large scale and vertical integration from the cellulose and acetyl, olefins, and alkylamines streams to support operating segments with advantaged cost positions. The Fiber segment offers cellulose acetate tow for use in filtration media, primarily cigarette filters. The company was founded by George Eastman in 1920 and is headquartered in Kingsport, TN.
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