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New: Introducing “Why Is It Moving?” - lightning-fast, AI-driven explanations of stock moves
Eastman Chemical Company (NYSE:EMN) is included among the 11 Low PE High Dividend Stocks to Buy According to Analysts.
Eastman Chemical Company (NYSE:EMN) is an American chemical products manufacturing company. On October 2, Jefferies revised its price target for Eastman Chemical (NYSE:EMN) to $78 from $81 while keeping a Buy rating on the stock.
The firm attributed the adjustment to persistent macroeconomic uncertainty, suggesting that demand challenges are likely to continue through the end of 2024. Jefferies pointed out some areas of resilience within Eastman Chemical Company (NYSE:EMN)’s operations, particularly in the personal care, aerospace and defense, and water treatment segments. However, it expects cyclical markets to remain under pressure.
While the firm sees limited signs of a broad economic recovery in the near term, it mentioned that potential tailwinds from possible interest rate cuts could start to emerge in the second half of 2025.
Jefferies also anticipates that Eastman Chemical Company (NYSE:EMN)’s earnings per share will benefit from ongoing cost reductions and the scaling up of its methanolysis facilities, which are expected to strengthen results despite the difficult environment.
Eastman Chemical Company (NYSE:EMN)’s dividend remains another highlight, with the company increasing its payouts for 15 straight years, continuing its commitment to shareholder returns. It currently offers a quarterly dividend of $0.83 per share and has a dividend yield of 5.48%, as of October 14.
While we acknowledge the potential of EMN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 12 Best Dividend Stocks With Yields Above 4% and 12 Reliable Dividend Stocks for Maximum Income
Disclosure: None.
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