Goldman Sachs Increases Eastman Chemical’s Price Target to $89.00

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Eastman Chemical ($NYSE:EMN) Company is a multinational chemical manufacturing company based in Kingsport, Tennessee. The company produces a wide range of products, including specialty chemicals, advanced materials, and industrial gases. On Thursday, The Goldman Sachs Group released a research report in which they increased Eastman Chemical’s price target from $79.00 to $89.00. According to the report, Goldman Sachs believes that the company is well-positioned to benefit from the strong demand for their products and services. The report also highlighted Eastman Chemical’s strong earnings history and its successful transformation from being a commodity-oriented business to being an innovative specialty chemicals company. Goldman Sachs also believes that the company is well-positioned to capitalize on the positive industry dynamics and will continue to benefit from its strategic investments in technology and innovation.

The report also mentioned that Eastman Chemical’s strong balance sheet and cash flows will enable it to expand its production capacity and increase its market share. The analysts also noted that Eastman Chemical has been able to maintain a healthy dividend policy and has consistently returned capital to shareholders through share repurchases and dividend payments. Overall, Goldman Sachs believes that Eastman Chemical is an attractive investment with a strong upside potential. The new price target reflects the analysts’ confidence in the company’s ability to capitalize on the favorable industry trends and deliver strong returns to its shareholders.

Price History

Despite the increase in price target, the stock opened the day at $82.4 and closed at $80.7, a 2.0% decrease from the previous closing price of $82.3. This negative movement occurred despite the overwhelming optimism from Goldman Sachs, who maintained their “Buy” rating on Eastman Chemical. The increase in the price target was likely due to Eastman Chemical’s strong performance over the past few quarters. The company reported strong earnings and revenue growth in their most recent financial results and has seen positive year-over-year revenue growth over the last several years. Additionally, the company has been able to maintain a low debt-to-equity ratio, indicating that it is well-positioned to manage its balance sheet for future growth. Despite Eastman Chemical’s strong recent performance and the positive outlook from Goldman Sachs, investors remain cautious about the stock’s performance. The company faces competition from other chemical producers and may be vulnerable to macroeconomic headwinds that could hurt their business. Additionally, the stock is currently trading at a premium to its peers, which could make it difficult for investors to find value in the stock.

However, investors should remain cautious when investing in the stock, as there are still risks that could impact its future performance. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Eastman Chemical. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Eastman Chemical. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Eastman Chemical. More…

Key Ratios Snapshot

Some of the financial key ratios for Eastman Chemical are shown below. More…

VI Analysis

EASTMAN CHEMICAL is an American chemical company that produces chemicals, fibers and plastics. Its fundamentals reflect its long term potential and to aid investors in making an informed decision, VI App has made the analysis of EASTMAN CHEMICAL simple. VI Risk Rating has given EASTMAN CHEMICAL a medium risk rating in terms of financial and business aspects. Additionally, it has detected 2 risk warnings in income sheet and balance sheet. The company offers a broad portfolio of products for everyday use and is committed to finding innovative solutions to its customers’ needs. Its operations are spread across multiple countries, giving it a global presence. It has established various strategic partnerships with other companies in order to expand its reach and offerings. Its products are found in a variety of industries such as automotive, construction, energy and aerospace. EASTMAN CHEMICAL has a strong financial position, with a good dividend yield and strong cash flow. Its debt to equity ratio is low, which signals that the company is well-positioned to handle any unforeseen economic downturns. In addition, it has a good credit rating and has been able to maintain healthy financial metrics over the past few years. Overall, EASTMAN CHEMICAL is a medium risk investment for investors looking for long-term growth potential. With its strong financials, global reach and strategic partnerships, the company is well-positioned to take advantage of future opportunities. So, register with us to find out more about the risks associated with EASTMAN CHEMICAL. More…

VI Peers

Eastman Chemical Co is one of the world’s leading producers of chemicals and related products, with manufacturing facilities in over 30 countries. Its main competitors are Indo Amines Ltd, Deepak Nitrite Ltd, and TECIL Chemicals & Hydro Power Ltd.

– Indo Amines Ltd ($BSE:524648)

Indo Amines Ltd is a publicly traded company with a market capitalization of 8.96 billion as of 2022. The company has a return on equity of 16.75%. Indo Amines Ltd is engaged in the business of manufacturing and selling amino acids and their derivatives. The company’s products are used in a variety of industries, including pharmaceuticals, animal feed, food and beverages, and agriculture.

– Deepak Nitrite Ltd ($BSE:506401)

Deepak Nitrite Ltd is an Indian company that manufactures and sells chemicals. The company has a market cap of 305.73B as of 2022 and a Return on Equity of 25.76%. Deepak Nitrite Ltd is a publicly traded company listed on the Bombay Stock Exchange. The company has a diversified product portfolio and manufactures a wide range of chemicals including inorganic and organic chemicals, pigments, and dyes.

Summary

Investing in Eastman Chemical is an attractive proposition for many investors. The company has a long history of successful operations and has consistently delivered positive returns to its shareholders. Eastman Chemical’s diverse range of products, from specialty chemicals and polymers to advanced materials and fibers, provides a unique opportunity for investors to diversify their portfolios. Eastman has been able to maintain strong market share despite the competitive nature of the industry and continues to expand into new markets. The company has taken steps to reduce its debt and improve its financial position, making it an attractive investment for those looking for a long-term hold. Eastman’s commitment to research and development has positioned the company to remain competitive in the long term, as it continues to develop innovative products and technologies.

The company’s ability to remain profitable despite the cyclical nature of the industry is also a positive factor. Eastman’s stock has performed well in recent years, and analysts have praised the company’s ability to manage its balance sheet and maintain profitability. Goldman Sachs recently increased their target price for the stock to $89.00, suggesting there is still room for the stock to appreciate in value. Overall, Eastman Chemical is an attractive investment for investors looking for solid returns and long-term growth potential. The company’s experience in the industry and financial stability make it an appealing option, while its commitment to innovation and research should ensure that it remains competitive in the future.