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PLEASE SEE ANALYST(S) CERTIFICATION(S) ON PAGE 3 AND IMPORTANT DISCLOSURES BEGINNING
ON PAGE 4
July 08, 2010
Eastman Chemical (EMN - US$ 54.17) 2-Equal Weight
Change of Earnings Forecast
Adj. Q2'10, Introducing 2011 Estimate
We are adjusting our 2H'10 and 2011 outlook for
US chem stocks for our revised view on the
economy and currency. For a detailed summary of
these changes, please join us for our Q2'10
preview of the US chemical stocks conference call
on Thurs, July 8, @ 11:00 AM EST. Contact your
Barclays Capital equity salesperson for the dial-in
number and passcode.
2Q'10 Likely to be Strong, as seen by PPG pre-
announced Q2 results on June 16 due to the
continued strength across a majority of its
industrial segments. We believe this rare pre-
announcement will kick-off a strong Q2 earnings
season for the US Chemical stocks, as PPG's
broad end markets are similar to those of many of
its diversified peers.
However, 2011 growth trends are less certain,
with macroeconomic issues and currency swings
We have tweaked our Q2'10E EPS from $1.58 to
$1.65 and our '10E EPS from $5.45 to $5.52. At
this time, we also introduced our '11E EPS at
United States of America
EPS (US$) (FY Dec)
New St. Est.
New St. Est.