Market Overview

UPDATE: Bank Of America Reiterates On Celanese As Acetyls Drive Upside For Now

Share:
Related CE
Top 4 Mid-Cap Stocks In The Chemicals-Major Diversified Industry With The Lowest PEG Ratio
Benzinga's Volume Movers
Celanese (CE) Announces Quarterly Dividend Hike of 20% - Analyst Blog (Zacks)

In a report published Monday, Bank of America analyst Kevin W. McCarthy reiterated a Neutral rating on Celanese (NYSE: CE), and raised the price target from $63.00 to $69.00.

In the report, Bank of America noted, “Celanese again posted impressive growth in Acetyl Intermediates (AI). Management commentary suggests that strength here should persist through 3Q if not 4Q. We are also encouraged by 10% volume growth in AEM, and recent methanol market price declines which should serve to mitigate risk related to expiration of Celanese's favorable methanol procurement contract in mid-2015.”

Celanese closed on Friday at $62.63.

Latest Ratings for CE

DateFirmActionFromTo
Apr 2015CitigroupMaintainsNeutral
Apr 2015Deutsche BankMaintainsBuy
Apr 2015JP MorganMaintainsNeutral

View More Analyst Ratings for CE
View the Latest Analyst Ratings

Posted-In: Bank of America Kevin W. McCarthyAnalyst Color Price Target Analyst Ratings

 

Related Articles (CE)

Around the Web, We're Loving...