Market Overview

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

Share:
Related CE
Earnings Scheduled For July 16, 2015
Benzinga's Top Downgrades

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
Jul 2015BarclaysMaintainsOverweight
Jul 2015UBSDowngradesBuyNeutral
Apr 2015CitigroupMaintainsNeutral

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)

View Comments and Join the Discussion!

Get Benzinga's Newsletters