UPDATE: UBS Upgrades Celanese (CE) to Buy; Ethanol Technology Provides Upside and a Catalyst
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Price: $49.11 -0.75%
Rating Summary:
11 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
11 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CE Now!
(Updated - July 10, 2012 12:36 PM EDT)
UBS upgraded Celanese (NYSE: CE) from Neutral to Buy. PT unchanged at $49.
Analyst, Gregg A. Goodnight, said, "CE's stock is down 25% YTD due to unrelenting near-term poor macroeconomic news particularly from China and Europe and soft acetyls demand in these regions. We believe the stock is near bottom and the current price represents a good entry point. In our view, investors are unduly penalizing CE for its lower near-term earnings while not fully recognizing its long-term
profit growth potential."
Goodnight lowers FY12 EPS estimate from $4.40 to $4.10, but raises FY13 from $5.20 to $5.50.
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 $33.28 yesterday, with a 52 week range of $29.43-$58.68.
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UBS upgraded Celanese (NYSE: CE) from Neutral to Buy. PT unchanged at $49.
Analyst, Gregg A. Goodnight, said, "CE's stock is down 25% YTD due to unrelenting near-term poor macroeconomic news particularly from China and Europe and soft acetyls demand in these regions. We believe the stock is near bottom and the current price represents a good entry point. In our view, investors are unduly penalizing CE for its lower near-term earnings while not fully recognizing its long-term
profit growth potential."
Goodnight lowers FY12 EPS estimate from $4.40 to $4.10, but raises FY13 from $5.20 to $5.50.
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 $33.28 yesterday, with a 52 week range of $29.43-$58.68.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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