Market Overview

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

Related CE
What Falling Estimates & Price Mean for Axiall Corporation (AXLL) - Tale of the Tape
Top 4 NYSE Stocks In The Chemicals-Major Diversified Industry With The Lowest PEG Ratio

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 2014JP MorganMaintainsNeutral
Jul 2014Deutsche BankMaintainsBuy
Jul 2014UBSMaintainsBuy

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...

Partner Network

Get Benzinga's Newsletters