Eastman Chemical (EMN) Results Solid, Transformation Continues - BofA/Merrill Lynch
Get Alerts EMN Hot Sheet
Rating Summary:
12 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Join SI Premium – FREE
BofA/Merrill Lynch analyst Kevin McCarthy reiterated a Buy rating and $95 price target on Eastman Chemical (NYSE: EMN) following Q3 results with modest upside on the top and bottom-line and guidance to the high end.
The analyst notes management continues to transform Eastman into more of a specialty chemicals company, "Management continues to transform Eastman into more of a specialty chemicals company," he said. He is also attracted to the strong FCF generation (2015 FCF yield 8.2%).
The price target of based on a 12.9x mutlipe to the firm's 2015 EPS estimate of $7.35.
For an analyst ratings summary and ratings history on Eastman Chemical click here. For more ratings news on Eastman Chemical click here.
Shares of Eastman Chemical closed at $75.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FirstEnergy Corp. (FE) PT Raised to $35 at BofA Securities
- Quest Diagnostics (DGX) PT Raised to $145 at Evercore ISI
- Spotify (SPOT) PT Raised to $340 at Evercore ISI following strong Q1 results
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!