Eastman Chemical Company (EMN) has recently seen a 56.1% increase in short interest, despite underperforming compared to its competitors more than once. However, experts argue a potential bull case, claiming that EMN can still bring investors profits. Wells Fargo upgraded EMN due to its earnings growth, while Verition Fund Management LLC and Bridgewater Associates LP acquired EMN shares. EMN's future growth is expected to be driven by innovation while Citigroup Inc. has a $13.20 million stock position in EMN. EMN will invest in interlayer production in Europe and is expected to see a $500M EBITDA growth by 2029 due to circular economy push. Despite some recent internal sell-offs, EMN's Q3 earnings and revenues have been stronger than estimated, with revenues hitting $2.46 billion. EMN has announced the pricing for its upcoming tender offer for 3.800% Notes Due 2025, and is laying off 60 employees due to the closure of a production line at Indian Orchard plant. The institutionally owned company (88% stake) aims to grow via Circular Economy, and investors who took positions five years ago saw a 77% gain.
Eastman Chemical Company EMN News Analytics from Wed, 15 May 2024 07:00:00 GMT to Sat, 30 Nov 2024 18:08:11 GMT -
Rating 8
- Innovation 7
- Information 9
- Rumor 3
