Eastman Chemical Downgraded at JPMorgan (EMN)
JPMorgan reported on Monday that it has reduced its rating on chemicals company, Eastman Chemical Company (EMN).
The firm has downgraded EMN from an “Overweight” to “Neutral,” and has given the company a $70 price target. This price target suggests a 1% increase from the stock’s current price of $68.97.
Analysts have lowered their rating on the company based on valuation, as the stock has increased 45% in the last 11 months.
Eastman Chemical shares were mostly flat during premarket trading Monday. The stock has increased 28% in the past year.
The Bottom Line
Shares of Eastman Chemical Company (EMN) have a 1.74% yield, based on Friday’s closing price of $68.97.
Eastman Chemical Company (EMN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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