Market Overview

UPDATE: Piper Jaffray Downgrades Celanese Corporation to Neutral on Valuation, Outlook

Related CE
Celanese Announces Vinyl Acetate-based Emulsions Price Increases in Asia
Robeco and Citi Complete Centrally-Cleared Inflation Swap

Piper Jaffray downgraded Celanese Corporation (NYSE: CE) from Overweight to Neutral and maintained a $47.00 price target.

Piper Jaffray noted, "We are downgrading shares of CE to Neutral (from Overweight) as we believe that potential FY13 upside is largely baked into estimates (with consensus at +17% y/ y EPS growth) & valuation is fair (multiple already reflecting emerging mid-cycle performance). In addition, having no established market channels for industrial ethanol despite being 4-5 months from startup could pressure the profitability of ethanol production, and AEM will likely face increasingly difficult headwinds as sentiment sours on EU auto builds."

Celanese Corporation closed at $46.64 on Friday.

Latest Ratings for CE

Nov 2015Deutsche BankMaintainsBuy
Nov 2015Deutsche BankMaintainsBuy
Nov 2015MacquarieMaintainsOutperform

View More Analyst Ratings for CE
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings


Related Articles (CE)

Get Benzinga's Newsletters