These Analysts Revise Their Forecasts On Eastman Chemical After Q1 Earnings
Portfolio Pulse from Avi Kapoor
Eastman Chemical (NYSE:EMN) reported Q1 earnings surpassing expectations with adjusted earnings of $1.61 per share against the forecasted $1.43. Sales reached $2.310 billion, slightly above estimates of $2.293 billion. The company observed strong demand across key markets and confirmed FY2024 earnings guidance of $7.25 to $8.00 per share. Following the announcement, B of A Securities and Jefferies revised their price targets for EMN, with B of A Securities reducing it to $112 and Jefferies raising it to $125.
April 29, 2024 | 1:01 pm
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Eastman Chemical exceeded Q1 earnings and sales expectations, with analysts adjusting their price targets post-announcement.
The positive earnings report and subsequent analyst price target adjustments indicate a bullish outlook for EMN. The company's strong performance and optimistic FY2024 guidance suggest potential for stock appreciation. However, the slight decrease in stock price post-announcement may reflect market adjustments or other external factors not detailed in the article.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100