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UPDATE: Jefferies Raises PT on Celanese Corporation on Strong Q1 Results

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In a report published Monday, Jefferies analyst Laurence Alexander reiterated a Buy rating on Celanese Corporation (NYSE: CE), and raised the price target from $56.00 to $60.00.

In the report, Alexander noted, “The strong Q1 results in a difficult environment suggest that the productivity thesis for Celanese is gathering momentum 2-4 quarters earlier than we expected. Coupled with TCX starting to contribute to earnings in 2H13, this suggests Celanese could enter a period of outperformance even in the absence of a stronger cyclical recovery. We are raising 2013E $0.20 to $4.60 and 2014E $0.15 to $5.50.”

Celanese Corporation closed on Friday at $47.10

Latest Ratings for CE

DateFirmActionFromTo
Nov 2020Morgan StanleyMaintainsEqual-Weight
Oct 2020BMO CapitalMaintainsMarket Perform
Oct 2020ScotiaBankDowngradesSector OutperformSector Perform

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Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

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HYMCBMO CapitalInitiates Coverage On
DEMorgan StanleyMaintains335.0
SBNYRaymond JamesMaintains138.0
CORTHC Wainwright & Co.Maintains32.0
CYBBFCitigroupDowngrades
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