Dahlman Rose Downgrades Celanese (CE) to Hold; Fundamentals Remain Challenged
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Price: $50.05 +0.10%
Rating Summary:
11 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
11 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade CE Now!
Dahlman Rose downgraded Celanese (NYSE: CE) from Buy to Hold.
Analyst, Charles Neivert, said, "While 2Q results beat expectations, we believe near-term fundamentals are likely to stay challenging over the coming quarters due to economic uncertainties in Europe and slower Asian growth. Additionally, we see less visibility in CE's growth profile and as such have lowered our rating on the shares to Hold."
FY12 EPS cut from $4.71 to $3.74, establishes FY13 at $4.35.
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 $39.10 yesterday, with a 52 week range of $29.43-$52.59.
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Analyst, Charles Neivert, said, "While 2Q results beat expectations, we believe near-term fundamentals are likely to stay challenging over the coming quarters due to economic uncertainties in Europe and slower Asian growth. Additionally, we see less visibility in CE's growth profile and as such have lowered our rating on the shares to Hold."
FY12 EPS cut from $4.71 to $3.74, establishes FY13 at $4.35.
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 $39.10 yesterday, with a 52 week range of $29.43-$52.59.
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