UBS Cuts Price Target on Celanese Corp. (CE) as Shares Trade Down

UBS reiterated a Neutral rating on Celanese (NYSE: CE), and cut the price target to $69.00 (from $74.00), as shares trade down 13% from 52 week high.

Analyst John Roberts commented, "The stock is down nearly 13% from the 52wk high on 7/2/15. We believe the drop is largely due to market volatility rather than any significant base case outlook change. No change to Neutral rating given the near-term uncertain macro outlook."

For an analyst ratings summary and ratings history on Celanese click here. For more ratings news on Celanese click here.

Shares of Celanese closed at $64.23 yesterday.

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