Jefferies & Co. reported on Friday that they have upgraded chemical company, Eastman Chemical Company(EMN).

The firm, which currently has a “Hold” rating on the company, has increased its price target to $71. This price target suggests a 3% increase from the stock’s current price of $68.88.

Analysts have increased the company’s price target as a result of lower priced feedstock.

Eastman Chemical shares were mostly flat during premarket trading Friday. The stock has increased 76% in the past year.

The Bottom Line
Shares of Eastman Chemical (EMN) have a 1.74% dividend yield, based on last night’s closing stock price of $68.88. The stock has technical support in the $62-$66 price area. The shares are trading near all-time highs.

Eastman Chemical Company(EMN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.