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Eastman Chemical: Analysts’ Recommendations

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Mar. 22 2019, Published 8:02 a.m. ET

Analysts’ recommendations

There has been a gradual increase in analysts’ interest in Eastman Chemical. Currently, there are 18 analysts tracking Eastman Chemical. Among the analysts, 61% recommended a “buy,” while 39% recommended a “hold.” None of the analysts recommended a “sell.”

Analysts’ consensus indicates a target price of $91.7 for Eastman Chemical, which implies a return potential of 16.1% over the closing price as of March 21. In the past three months, analysts have lowered Eastman Chemical’s target price significantly from $97.28 to the current target price. The stock price had a significant correction in 2018. As a result, many analysts downgraded the stock. Eastman Chemical had muted fourth-quarter earnings. In the fourth quarter, the company’s revenues increased marginally. Eastman Chemical reported a decline in its EPS. The company expects slower economic growth in 2019. Some of the issues that Eastman Chemical faced in the fourth quarter of 2018 will likely continue in the first quarter. As a result, many analysts have lowered Eastman Chemical’s target price. The analysts still maintained a “buy” or “hold” on the stock.

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Target prices

  • Cowen (COWN) cut its target price for Eastman Chemical from $94 to $88, which implies a return potential of 11.4% over the closing price as of March 21.
  • RBC (RBC) made an upward revision to Eastman Chemical’s target price from $76 to $81, which implies a return potential of 2.5% over the closing price on March 21
  • J.P. Morgan (JPM) cut the target price for Eastman Chemical to $92, which implies a return potential of 16.4% over the closing price on March 21.

Investors could hold Eastman Chemical indirectly by investing in the Materials Select Sector SPDR Fund (XLB). XLB invests 1.8% of its portfolio in Eastman Chemical as of March 21.

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