Citigroup Reiterates Buy Rating on Eastman Chemical
Citigroup maintains its optimistic view on Eastman Chemical, affirming a buy rating with an $85 price target, a 20.21% upside from the current price.
Key Points
- On June 24, 2026, Citigroup reiterated its buy rating on Eastman Chemical Company, setting a price target of $85.
- Citigroup's $85 price target implies 20.21% upside from Eastman Chemical Company's ($EMN) current $70.71 share price.
- Shares of Eastman Chemical traded near $69.48 on Thursday, with a market cap of about $8.2 billion and a P/E ratio of 20.8.
- BlackRock increased its holdings in Eastman Chemical by 2.8 million shares, while Vanguard opened a new position with 7.6 million shares.
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On June 24, 2026, Citigroup reiterated its buy rating on Eastman Chemical Company (NYSE:EMN), maintaining a price target of $85. Analyst Patrick Cunningham expressed confidence in the company's prospects, signaling continued optimism about its future performance.
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Other Institutional Activity in Eastman Chemical
BlackRock, Inc. grew its holdings in Eastman Chemical by 2,788,735 shares, ending with 16,491,246 shares valued at about $1.26 billion. Vanguard Portfolio Management LLC opened a new position, acquiring 7,628,354 shares worth approximately $582.2 million. Similarly, Vanguard Capital Management LLC also initiated a stake with 5,108,718 shares valued at $389.9 million. Dimensional Fund Advisors LP increased its stake by 338,914 shares to a total of 4,936,789 shares, valued at $376.7 million. Capital Research Global Investors added 988,578 shares, bringing its total to 4,844,307 shares worth around $369.7 million.
Eastman Chemical Company Stock Down 3.2%
Shares of Eastman Chemical traded near $69.48 on Thursday. The company has a market capitalization of approximately $8.2 billion and a P/E ratio of 20.8, with a forward P/E ratio of 10.3. Its beta is 1.068, indicating moderate volatility. The stock's 52-week range spans from $56.11 to $83.47, with a 50-day moving average of $73.49 and a 200-day moving average of $68.51. The company maintains a current ratio of 1.47 and a quick ratio of 0.68, with a debt-to-equity ratio of 89.6.
$EMN price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Eastman Chemical reported revenue of approximately $8.64 billion, though it experienced a slight decline in revenue growth at -4.9%. The company's net margin stands at 4.6%, and it achieved a return on equity of 6.6%. The next earnings report is expected on July 30, 2026.
Dividend
Eastman Chemical offers an annual dividend rate of $3.36, yielding 4.64%. The dividend payout ratio is high at approximately 96.5%, indicating a substantial portion of earnings is returned to shareholders.
Insider Buying and Selling at Eastman Chemical Company
On June 1, 2026, Adrian James Holt, Senior Vice President and Chief HR Officer, sold 1,058 shares at an average price of $75.49. On the same day, he also purchased 4,341 shares. Additionally, Linnie Haynesworth and Kim Ann Mink each bought 1,628 shares on May 7, 2026.
Analysts Set New Price Targets
On June 24, 2026, Citigroup maintained its buy rating for Eastman Chemical with a price target of $85. Previously, Morgan Stanley and JP Morgan also maintained buy ratings with targets of $83 and $82, respectively, on May 5 and May 4, 2026. The consensus among analysts is a buy recommendation, with a mean price target of $84.33 based on 15 opinions.
About Eastman Chemical Company
Eastman Chemical Company, headquartered in Kingsport, Tennessee, is a leading specialty materials company. It operates across several segments including Additives & Functional Products, Advanced Materials, Chemical Intermediates, and Fibers. The company provides a wide range of products, from specialty polymers and solvents to cellulose acetate and plasticizers, serving diverse markets such as transportation, personal care, and construction. Founded in 1920, Eastman continues to innovate under the leadership of CEO Mark J. Costa, with a workforce of 13,000 employees.
Bottom Line
Citigroup's reiterated buy rating and $85 price target for Eastman Chemical highlight ongoing confidence in its market position. Investors track these ratings closely as they provide insights into the company's potential for growth. While 13F filings and analyst reports offer valuable information, they reflect past data and should be considered as part of a broader investment strategy.
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