UPDATE: J.P. Morgan Raises Eastman Chemical's PT - Eastman Chemical (NYSE:EMN)

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According to a research report published earlier today, J.P. Morgan has increased Eastman Chemical's (NYSE: EMN) PT from $50 to $57.In the report, J.P. Morgan said, "Eastman reported a stronger-than-expected performance in segment income partly offset by higher spending on early business development projects. Corporate expense rose sequentially from $27 million in 4Q:11 to $33 million because Eastman is spending more to develop its Perennial Wood product as well as for longer-term opportunities in battery separators. (Perennial Wood is treated to protect wood from moisture. Eastman now sells Perennial through 50 Lowe's stores as a test market.)"J.P. Morgan maintains its Neutral rating on Eastman Chemical, which is currently trading at $53.71.

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