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Stay alert! You never know what could fly under the radar as you dream about a 4-day weekend. Our traders have spotted a materials play. Did it slip by you?
Both Pete Najarian and Guy Adami are keeping a close eye on Eastman Chemical [ EMN 56.59 
+0.00 (+0.00%) ] after Deutsche upgraded the company on Tuesday.
Over the past 3 months shares have climbed 12% but they could have room to run, according to analyst Jason Miner.By selling off riskier businesses with narrower margins and by growing in specialties, Eastman has bolstered earnings during the economic downturn, Miner said. In a note to clients, Miner said gains from the company's transformation will become more evident with improving demand in the coming two years. This should drive confidence in "normal" earnings per share of $5 or more, he said.He upgraded his rating on the company to "Buy" from "Hold," and raised his price target to $70 from $62.
$61.48 is the level I'm watching in this stock, counsels Guy Adami. If it closes above that level I’d get long.
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