Jefferies Remains Bullish on Eastman Chemical (EMN) Post Earnings and Outlook Call

Jefferies maintained a Buy rating on Eastman Chemical (NYSE: EMN), and cut the price target to $80.00 (from $90.00), following the company's 4Q earnings report. Q4 EPS was $0.24 above Jefferies' forecast.

Analyst Laurence Alexander commented, "Eastman's Q4 call and outlook allayed concerns on priorities and financial targets, but validation of FCF generation, earnings resilience and portfolio repositioning will likely wait until 2H16 or even into 2017. We are lowering 2016E EPS 6% and our price target 11% to reflect the increased uncertainty. Given an attractive relative valuation, we reiterate our Buy rating."

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 $61.21 yesterday.

You May Also Be Interested In

• Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
• Marsh & McLennan (MMC) PT Raised to $221 at Evercore ISI
• Hertz Global (HTZ) PT Lowered to $6 at Deutsche Bank