Market Overview

UPDATE: Citigroup Raises PT on Eastman Chemical Following Raised EPS Guidance

Share:
Related EMN
4 Reasons RBC Downgraded Eastman Chemical
SunTrust On Eastman Chemical: 'The Horse Has Left The Barn'

In a report published Thursday, Citigroup analyst P.J. Juvekar reiterated a Buy rating on Eastman Chemical (NYSE: EMN), and raised the price target from $77.00 to $93.00.

In the report, Citigroup noted, “Mgmt is back at it again raising FY EPS guidance (+10c to $6.40-$6.50) following a hiatus during 1Q earnings. EMN's portfolio post the Solutia acquisition one year ago continues to deliver despite weakness in some product lines, particularly Adhesives & Plasticizers, and convergence in the propylene-to-propane spread (down 13c Q/Q). We continue to like EMN due to its transformed portfolio, solid execution, and expected share repurchases (~$1.2B by '16) from strong FCF generation.”

Eastman Chemical closed on Wednesday at $80.95.

Latest Ratings for EMN

DateFirmActionFromTo
Sep 2016CitigroupDowngradesBuyNeutral
Aug 2016RBC CapitalDowngradesOutperformSector Perform
Aug 2016CitigroupMaintainsBuy

View More Analyst Ratings for EMN
View the Latest Analyst Ratings

Posted-In: Citigroup P.J. JuvekarAnalyst Color Price Target Analyst Ratings

 

Related Articles (EMN)

View Comments and Join the Discussion!