Deutsche Bank Believes Eastman Chemical (EMN) Won’t Stop Here

In a report issued on April 30, David Begleiter from Deutsche Bank reiterated a Buy rating on Eastman Chemical (EMN), with a price target of $132.00. The company’s shares closed last Friday at $115.39, close to its 52-week high of $119.01.

According to, Begleiter is a 5-star analyst with an average return of 16.5% and a 75.4% success rate. Begleiter covers the Basic Materials sector, focusing on stocks such as Compass Minerals International, Air Products and Chemicals, and Sherwin-Williams Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eastman Chemical with a $128.00 average price target, implying a 10.1% upside from current levels. In a report issued on April 30, UBS also maintained a Buy rating on the stock with a $133.00 price target.

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Eastman Chemical’s market cap is currently $15.75B and has a P/E ratio of 33.10. The company has a Price to Book ratio of -67.55.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EMN in relation to earlier this year. Most recently, in February 2021, Perry Stuckey, the SVP, Chf HR Ofcr of EMN sold 21,458 shares for a total of $2,296,006.

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Eastman Chemical Co. engages in the provision of specialty chemicals. It operates through the following segments: Additives and Functional Products, Advanced Materials, Chemical Intermediates and Fibers. The Additives and Functional Products segment includes chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets. The Advanced Materials segment produces and markets its polymers, films, and plastics with differentiated performance properties for value-added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets. The Chemical Intermediates segment consists of large scale and vertical integration from the cellulose and acetyl, olefins, and alkylamines streams to support operating segments with advantaged cost positions. The Fiber segment offers cellulose acetate tow for use in filtration media, primarily cigarette filters. The company was founded by George Eastman in 1920 and is headquartered in Kingsport, TN.

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