Nomura Securities Starts Eastman Chemical (EMN) at Neutral

Nomura Securities initiates coverage on Eastman Chemical (NYSE: EMN) with a Neutral rating and a price target of $82.00.

Analyst Analyst Aleksey Yefremov commented, "We initiate Eastman Chemical (EMN) with a Neutral rating and an $82 target price. Management has done a commendable job of adding diverse and defensive specialty niches and reducing commodity exposure. However, Eastman’s organic growth is not likely to exceed GDP, in our view. Trading multiple is unlikely to expand in the near term due to slow growth and increased downside risks in several segments."

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 $72.05 yesterday.

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