Morgan Stanley sees positive response to increased disclosure at Eastman event

Morgan Stanley sees little in Eastman’s current share price for the potential upside from its molecular/chemical recycling franchise, which makes the stock “tactically interesting to us going into Thursday’s investor event,” the analyst tells investors. The firm, which values Eastman’s base business at about $110 per share, versus the current roughly $100 price, thinks the recycling franchise is worth an additional $10 to $30 per share and believes fresh disclosure around recycling growth plans and economics should help investor sentiment. The firm has an Overweight rating and $125 price target on Eastman Chemical (EMN) shares.