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UPDATE: KeyBanc Capital Markets Initiates Eastman Chemical at Buy on Specialty Focus

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KeyBanc Capital Markets initiated coverage on Eastman Chemical (NYSE: EMN) with a Buy rating and a $74 price target.

KeyBanc Capital Markets said, "We continue to favor investment stories within the chemical sector that have made meaningful portfolio changes over the years to move into more “specialty businesses,” supporting steady earnings growth and improved margins profiles. We believe a series of acquisitions and divestitures have positioned EMN to post steadier earnings growth through 2015E. We see a good finish to 2012E and EMN's Investor Day on December 12, 2012 as near-term catalysts for the stock as the long-term growth potential for the new EMN is unveiled."

Eastman Chemical closed at $60.05 on Monday.

Latest Ratings for EMN

DateFirmActionFromTo
Aug 2016RBC CapitalDowngradesOutperformSector Perform
Aug 2016CitigroupMaintainsBuy
Aug 2016Deutsche BankMaintainsBuy

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Posted-In: KeyBanc Capital MarketsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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