Market Overview

UPDATE: Dahlman Rose Downgrades Celanese Corporation to Hold

Share:
Related CE
8 Biggest Price Target Changes For Tuesday
Benzinga's Top Upgrades, Downgrades For December 13, 2016

In a report published Wednesday, Dahlman Rose & Co. downgraded its rating on Celanese Corporation (NYSE: CE) from Buy to Hold.

Dahlman Rose noted, “CE reported adjusted EPS of $1.47/share that beat the $1.40/share consensus due mostly to better-than-expected affiliate earnings. The acetyl market remained challenged and the Singapore facility remains offline indefinitely. Despite this situation, CE can supply its own and customer needs on the reduced production. While margins may improve over the next quarter or two, we see the incremental improvement as slight and not enough to bring Singapore back into service.”

Celanese Corporation closed on Tuesday at $39.10.

Latest Ratings for CE

DateFirmActionFromTo
Dec 2016RBC CapitalUpgradesSector PerformOutperform
Nov 2016Goldman SachsUpgradesNeutralBuy
Oct 2016NomuraMaintainsNeutral

View More Analyst Ratings for CE
View the Latest Analyst Ratings

Posted-In: Dahlman Rose & Co.Analyst Color Downgrades Analyst Ratings

 

Related Articles (CE)

View Comments and Join the Discussion!