BofA Securities analyst Salvator Tiano maintains $Eastman Chemical (EMN.US)$ with a hold rating, and adjusts the target price from $119 to $115.
According to TipRanks data, the analyst has a success rate of 48.3% and a total average return of -3.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Eastman Chemical (EMN.US)$'s main analysts recently are as follows:
While the core business of Eastman Chemical is generally surpassing expectations, even considering a challenging 2024, the advancement of the Kingsport methanolysis project is encountering further complexities. The valuation of the shares appears reasonable when considering the primary business operations, with the majority of potential growth linked to the effective expansion of its methanolysis technology across more locations.
The projection for Eastman Chemical's earnings per share to grow by double digits in 2025 is acknowledged, although this is considered to already be factored into the current valuation. Further insights into the upside potential of the company's circular strategy are anticipated during the Kingsport tour in November.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
