Goldman Sachs Upgrades Eastman Chemical (EMN) Two-Notches to Buy

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February 3, 2012 7:09 AM EST
Get Alerts EMN Hot Sheet
Price: $68.11 -0.39%

Rating Summary:
    14 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 5 | New: 34
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Goldman Sachs upgraded Eastman Chemical (NYSE: EMN) from Sell to Buy with a price target of $63 (up from $42), suggesting 21% upside.

The firm said a combo of end-market recovery following 4Q destocking, higher product prices, and better propane/propylene spreads with drive earnings higher. They also said the ding SOA acquisition could stimulate greater investor focus on EMN.

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 $52.20 yesterday.

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