Eastman Chemical’s Price Target at Jefferies

Eastman Chemical’s Price Target at Jefferies March 26, 2024, 11:16 a.m., readers: 2

Jefferies analysts increased their price target for Eastman Chemical (NYSE:EMN) to $102 from $91, while keeping their Hold rating. The analysts observe that while destocking activities have mostly concluded, there are minimal indications of a restocking cycle beginning, and they anticipate the overall market environment to remain relatively stable in 2024. The spreads in Chemical Intermediates presented challenges in the first quarter but saw improvements in March. Additionally, the Kingsport methanolysis facility is progressing as planned, expected to contribute an additional $75 million in EBITDA for 2024. Furthermore, Eastman Chemical has received a Department of Energy grant to support the construction of a second facility in Texas.

About NYSE: EMN

E astman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon and rosin resins; organic acid-based solutions; amine derivative-based building blocks;

Price: 96.40
Market cap: 11.3 billion USD
Eps: 7.49
P/e ratio: 12.87
Focus Analysis On: EMN