EMN Price Prediction Next Week
Technical Analysis: Based on recent price action and technical indicators, EMN shows mixed signals. The RSI(14) at 61.17 indicates moderate bullish momentum without being overbought. The MACD at 1.94 suggests positive momentum. The stock is currently trading below its 200-day SMA of 98.61, indicating some bearish pressure in the longer term.
Price Levels and Targets: Fibonacci analysis indicates key levels:
- Resistance: R1 at 101.74, R2 at 104.62
- Support: S1 at 92.44, S2 at 89.56
- Pivot point: 97.09
News Sentiment and Analyst Views: Recent analyst actions show cautiously optimistic sentiment:
- RBC Capital raised target to $103 with Sector Perform rating
- BofA raised target to $112 with Buy rating, citing solid earnings and volume growth
- Street consensus shows Moderate Buy rating with average target of $114.69, implying 17.5% upside
Headwinds and Tailwinds:
- Positive: Solid earnings performance, volume growth outperforming chemicals sector
- Negative: Fibers destocking, higher natural gas costs, and FX headwinds for FY25
Price Prediction for Next Week: Based on technical indicators and analyst sentiment:
- Base case: 102-103 (most likely)
- Bullish case: 104-105
- Bearish case: 98-99
Recommendation: HOLD Current price levels suggest limited upside potential in the immediate term. While longer-term outlook remains positive, multiple headwinds and technical resistance levels suggest waiting for better entry points.
EMN Similar Chart Price Prediction
The price of EMN is predicted to go up -3.61%, based on the high correlation periods with KT. The similarity of these two price pattern on the periods is 97.87%.
EMN
KT
Down: -3.61%Similarity: 97.87%
EMN Revenue Forecast
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EMN VS S&P500
Eastman is well positioned to meet evolving chemical demands in auto with window interlayers and specialty plastics through its best-in-class patented products.
Eastman's investments in plants that use sustainable-based feedstocks, including recycled chemicals and wood pulp, should benefit from growing demand for specialty plastics made from these feedstocks.
As Eastman continues to develop new patented products, it should expand its specialty chemical business, which generates higher margins and commands some degree of pricing power.
EMN Analyst's Forecast
Charles Neivert
Piper Sandler
Hold
2025-01-07
Price Target
$105 → $102
Upside
+15.28%
Piper Sandler analyst Charles Neivert lowered the firm's price target on Eastman Chemical to $102 from $105 and keeps a Neutral rating on the shares. The firm says its diminished growth outlook for chemicals is predicated on "several underlying fundamental factors largely emanating" from structural issues in the economies outside the U.S., especially Europe and Asia, with China's role dominating the outlook. Piper also sees significant downside risk based on some of the policies now being considered by the incoming Trump administration, primarily policies which will increase oil and gas production well beyond current levels and tariffs which might meet retaliatory pushback.
John Roberts
Mizuho
Hold
2024-11-26
Price Target
$113 → $117
Upside
+11.46%
Michael Sison
Wells Fargo
Hold
2024-11-04
Price Target
$118 → $110
Upside
+9.95%
