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Jefferies Thinks Eastman Chemical’s Stock is Going to Recover

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Jefferies analyst Laurence Alexander maintained a Buy rating on Eastman Chemical (EMNResearch Report) today and set a price target of $150.00. The company’s shares closed last Friday at $102.67, close to its 52-week low of $98.24.

According to TipRanks.com, Alexander is a 4-star analyst with an average return of 6.3% and a 58.3% success rate. Alexander covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Lithium Americas.

Eastman Chemical has an analyst consensus of Moderate Buy, with a price target consensus of $130.36, which is a 27.0% upside from current levels. In a report issued on April 17, Wells Fargo also maintained a Buy rating on the stock with a $128.00 price target.

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Eastman Chemical’s market cap is currently $13.24B and has a P/E ratio of 16.84.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EMN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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