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Bear of the Day

Eastman Chemical (EMN)

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April 28, 2009 | Comment(s): 0
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EMN

Eastman Chemical Company (EMN - Analyst Report) is engaged in the manufacture and sale of chemicals, plastics and fibers. Based in Kingsport, Tennessee, the company has 12 manufacturing sites in the U.S., Europe and Asia-Pacific.

Eastman is witnessing rising raw material prices and a declining demand for its products. The company reported a 98% drop in earnings in the first quarter of 2009 driven by lower prices and volumes. Sales were considerably down in all the major segments.

Lack of free cash flow, PET capacity increases coupled with slowing growth, and PET industry overcapacity force us to rate the stock a Sell with a target of $24.50.

Eastman Chemical (EMN) : FULL ANALYST REPORT

Bear of the Day
Every day we feature one stock with a Zacks Recommendation of Sell that is set to underperform over the next 6+ months. We also provide you with free access to the in-depth research report on the stock. If you would like to see all our Buy and Sell rated stocks and in-depth research reports, then check out  Zacks Premium.

Read the full analyst report on EMN

 

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