Eastman Chemical’s (EMN) diversified chemical portfolio is driving earnings. The company benefits from business restructuring and cost-cutting measures. The Performance Chemicals business continues to outperform with an enhanced product mix achieved from the Genovique Specialty acquisition. Strong Specialty margins look increasingly credible.
diversified chemical portfolio is driving earnings. The company benefits from business restructuring and cost-cutting measures. The Performance Chemicals business continues to outperform with an enhanced product mix achieved from the Genovique Specialty acquisition. Strong Specialty margins look increasingly credible.
We are also getting optimistic about the Performance Polymer business, where Eastman has reversed losses. We are positive on the company s plans of divesting its PET business under the segment. We upgrade Eastman to Outperform from the previous Neutral recommendation and raise our target price to $77.00 from the initial $58.00.
EASTMAN CHEM CO (EMN): Free Stock Analysis Report
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