Morgan Stanley analyst Vincent Andrews has maintained their bullish stance on EMN stock, giving a Buy rating on September 16.
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Vincent Andrews has given his Buy rating due to a combination of factors that suggest potential growth for Eastman Chemical despite some near-term challenges. The company has revised its earnings and EBIT estimates downward for the upcoming quarters, reflecting weaker consumer demand and lower-than-expected spreads in certain segments. However, these adjustments are aligned with market expectations and provide a more realistic outlook.
Despite these revisions, Eastman Chemical’s long-term prospects remain promising, supported by its strategic positioning in the chemicals sector and potential recovery in consumer demand. The current stock price and market capitalization suggest that there is room for appreciation, making it an attractive investment opportunity. Andrews’s analysis indicates confidence in Eastman Chemical’s ability to navigate the current market conditions and deliver value to shareholders over time.
Andrews covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Cf Industries Holdings, and Eastman Chemical. According to TipRanks, Andrews has an average return of 3.1% and a 58.05% success rate on recommended stocks.
In another report released on September 16, Wells Fargo also maintained a Buy rating on the stock with a $80.00 price target.