KeyBanc Capital Markets has reiterated its Overweight rating on Eastman Chemical and kept a $74.00 price target, a level that the firm says represents about a 6.8% upside from the then-current share price of $69.32.
The brokerage pointed to management commentary and internal analysis suggesting that roughly $6.00 in earnings per share for 2026 is within reach. That figure aligns closely with InvestingPro data reflecting analyst estimates of $6.05 EPS for fiscal 2026.
KeyBanc’s note emphasized that reaching a $6.00 full-year EPS would demand disciplined execution. Specifically, the firm said the outcome hinges on sustained delivery of productivity initiatives and on new product rollouts proceeding without material disruptions. Those operational factors are central to the pathway the analyst outlined.
On a quarterly basis, KeyBanc estimated Eastman would need to generate about $1.80 of EPS by mid-2026 to be on track for the $6.00 annual objective. The firm observed that this quarterly pace is comparable to results seen in the first half of 2025, when volumes were stronger.
In framing its base case, KeyBanc projected 2026 EPS in a range between $5.50 and $5.70. The firm also noted upside to that base case could materialize if market demand improves or if the company executes its strategic plan flawlessly.
Turning to reported results, Eastman Chemical disclosed fourth-quarter 2025 earnings that matched EPS expectations but fell short on revenue. The company reported EPS of $0.75, in line with analysts’ projections, while revenue came in at $1.97 billion versus an anticipated $2.03 billion.
The mixed quarterly outcome — EPS met, revenue missed — is a salient datapoint for investors evaluating Eastman’s near-term financial health and the company’s ability to translate volume or pricing dynamics into top-line performance.
Overall, KeyBanc’s stance reflects cautious optimism: the firm maintains an upbeat rating and a price objective that assumes modest upside, but it qualifies that view with the operational and market prerequisites necessary to hit a $6.00 EPS outcome in 2026.