Eastman Chemical (NYSE:EMN) Price Target Cut to $79.00 by Analysts at Morgan Stanley

Eastman Chemical (NYSE:EMN) had its price target reduced by stock analysts at Morgan Stanley from $83.00 to $79.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Morgan Stanley’s target price indicates a potential upside of 17.50% from the stock’s previous close.

EMN has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $82.00 price target on shares of Eastman Chemical in a research report on Tuesday, May 5th. Mizuho set a $85.00 price target on Eastman Chemical in a research report on Friday, May 1st. Royal Bank Of Canada raised their price objective on Eastman Chemical from $79.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. Citigroup dropped their price objective on Eastman Chemical from $88.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Finally, UBS Group upped their target price on Eastman Chemical from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.67.

Eastman Chemical Trading Up 0.4%

EMN stock opened at $67.23 on Thursday. Eastman Chemical has a 52 week low of $56.11 and a 52 week high of $83.47. The company has a market capitalization of $7.69 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 0.85 and a beta of 1.04. The company’s 50-day simple moving average is $72.65 and its 200 day simple moving average is $71.63. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 1.47.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.91 EPS. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. As a group, sell-side analysts anticipate that Eastman Chemical will post 6.36 earnings per share for the current year.

Hedge Funds Weigh In On Eastman Chemical

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC acquired a new stake in Eastman Chemical in the fourth quarter valued at about $202,000. Integrated Wealth Concepts LLC raised its stake in Eastman Chemical by 185.6% during the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock worth $589,000 after acquiring an additional 4,345 shares in the last quarter. Millennium Management LLC raised its stake in Eastman Chemical by 69.2% during the first quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock worth $17,098,000 after acquiring an additional 79,376 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 183 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Eastman Chemical in the 1st quarter valued at approximately $252,000. Institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

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.