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Eastman Chemical (EMN)
We have upgraded our long-term recommendation for Eastman Chemical Company (EMN - Analyst Report), a manufacturer of chemicals, plastics and fiber, to Outperform with a target price of $60.00.
Eastman stands to benefit from its business restructuring and cost-cutting measures, which are expected to result in cost savings of more than $200 million for the full year 2009.
The company's recent quarterly earnings were ahead of the Zacks Consensus and earlier guidance. For the full-year 2009, the company is now guiding towards earnings to be at the higher end of a $2.00 $3.00 range.
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| Market Summary | Nov 22, 2009 10:10 am ET |
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