Eastman Raises Outlook to the Top Half of Prior Full-Year Guidance; We Increase FVE to $73 per Share
Eastman has raised its full-year earnings outlook on better-than-anticipated first-quarter 2017 results. The company originally guided to adjusted EPS growth of 8%-12% over 2016, but management now sees Eastman meeting the top half of the range (which implies 2017 adjusted EPS growth of 10%-12%) due to reduced costs. After incorporating expected U.S. tax reform and increasing our operating profit forecasts based on lower costs, we raise our fair value estimate to $73 per share from $70 per share...Eastman Chemical is a global advanced materials and specialty additives company. The company's segments are: Additives and Functional Products, which manufactures chemicals for products in the transportation, consumables, building and construction, and other markets; Advanced Materials, which produces and markets polymers, films, and plastics in transportation, consumables, building and construction, durable goods, and health and wellness markets; Chemical Intermediates, which utilizes integration from the cellulose and acetyl, olefins, and alkylamines streams; and Fibers, which manufactures and sells Estron? acetate tow and Estrobond? triacetin plasticizers for use in filtration media.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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