Wells Fargo Starts Celanese (CE) at Outperform; Advantaged Technologies + Above GDP Growth + Asian Exposure
Tweet Send to a FriendGet Alerts CE Hot Sheet
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!
Wells Fargo initiates coverage on Celanese (NYSE: CE) with an Outperform. PT $65.00.
Wells analyst says, "Between advantaged technology, a strong Asian presence, leading market shares, and option on industrial ethanol, we believe further earnings growth awaits. Although the shares have climbed 20% YTD versus a relatively flat S&P 500, valuation remains compelling at 5.9x EV-to-2012 EBITDA, in our view. Our valuation range is based on 7.5x our 2012 estimates, modestly below the historical average. We introduce our 2011E EPS at $4.70 and 2012 at $5.25."
For more ratings news on Celanese click here and for the rating history of Celanese click here.
Shares of Celanese closed at $49.20 yesterday, with a 52 week range of $24.69-$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
Wells analyst says, "Between advantaged technology, a strong Asian presence, leading market shares, and option on industrial ethanol, we believe further earnings growth awaits. Although the shares have climbed 20% YTD versus a relatively flat S&P 500, valuation remains compelling at 5.9x EV-to-2012 EBITDA, in our view. Our valuation range is based on 7.5x our 2012 estimates, modestly below the historical average. We introduce our 2011E EPS at $4.70 and 2012 at $5.25."
For more ratings news on Celanese click here and for the rating history of Celanese click here.
Shares of Celanese closed at $49.20 yesterday, with a 52 week range of $24.69-$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
You May Also Be Interested In
- Abercrombie & Fitch Co. (ANF) Misses Q1 EPS by 4c; Guides FY Below Views
- UPDATE: 8x8 Inc. (EGHT) Misses Q4 EPS by 1c
- Roth Capital Resumes Summer Infant (SUMR) at Neutral
Create E-mail Alert Related Categories
New CoverageRelated Entities
Earnings, Wells Fargo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
