Eastman Chemical (NYSE:EMN) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Key Points

• JPMorgan upgraded Eastman Chemical from "neutral" to overweight and set an $80 price target, implying about an 8% upside from the prior close.
• The company recently missed quarterly EPS ($0.75 vs. $0.76) and revenue ($1.97B vs. $2.03B), with revenue down roughly 12.1% year‑over‑year.
• Analyst coverage is mixed (seven Buys, eight Holds) yielding an average "Hold" consensus and an average target of $80.08; EMN trades near $74 with a market cap of about $8.45B and a P/E of ~18.1.

Eastman Chemical (NYSE:EMN - Get Free Report) was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Tuesday,Finviz reports. The brokerage presently has a $80.00 target price on the basic materials company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 8.02% from the company's previous close.

Several other analysts have also recently issued reports on the company. Citigroup increased their target price on Eastman Chemical from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft increased their target price on Eastman Chemical from $64.00 to $72.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. UBS Group increased their target price on Eastman Chemical from $80.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Wells Fargo & Company reissued an "equal weight" rating and set a $70.00 price target on shares of Eastman Chemical in a research note on Friday, December 19th. Finally, Weiss Ratings raised Eastman Chemical from a "sell (d+)" rating to a "hold (c)" rating in a research note on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $80.08.

Eastman Chemical Stock Performance

Shares of EMN opened at $74.06 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $74.24 and a two-hundred day simple moving average of $67.15. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.62 and a beta of 1.16. Eastman Chemical has a 52 week low of $56.11 and a 52 week high of $84.18.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). Eastman Chemical had a return on equity of 10.57% and a net margin of 5.42%.The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the business posted $1.87 EPS. The business's revenue for the quarter was down 12.1% compared to the same quarter last year. On average, analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Institutional Investors Weigh In On Eastman Chemical

Several institutional investors have recently modified their holdings of EMN. Brighton Jones LLC bought a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $202,000. Integrated Wealth Concepts LLC lifted its stake in shares of Eastman Chemical by 185.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company's stock valued at $589,000 after purchasing an additional 4,345 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Eastman Chemical by 69.2% in the 1st quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company's stock valued at $17,098,000 after purchasing an additional 79,376 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Eastman Chemical by 2.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company's stock valued at $644,000 after purchasing an additional 183 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Eastman Chemical in the 1st quarter valued at approximately $252,000. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Company Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.

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