Chemicals, plastics, and fibers maker Eastman Chemical Company ( EMN ) on Tuesday saw its price target cut significantly by analysts at JPMorgan Chase.
The firm maintained its "Overweight" rating on EMN but lowered its price target from $120 all the way down to $90. That new target suggests a smaller 20% upside to the stock's Monday closing price of $75.18.
Eastman Chemical shares were unchanged in premarket trading Tuesday. EMN stock has fallen more than 10% year-to-date.
The Bottom Line
Shares of Eastman Chemical ( EMN ) have a 2.77% dividend yield, based on last night's closing stock price of $75.18. The stock has technical support in the $71-$72 price area. If the shares can firm up, we see overhead resistance around the $80-$83 price levels.
Eastman Chemical Company ( EMN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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