Celanese (CE) PT Raised to $63 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the price target on Celanese (NYSE: CE) to $63.00 (from $53.00) while maintaining a Sector Perform rating.

The analyst commented: "Maintaining Estimates; Slightly Raising PT; Maintain SP on Near-term Caution. Weakness is persisting in Auto builds, and while the outlook has improved somewhat for FY25, CE's Q2 should be an indicator of how well it has been able to manage inventories to set itself up for 2H growth. Overall we are maintaining estimates, as we feel our current forecast for Q2/FY25/FY26 EPS estimates of $1.33/$4.97/$7.10 and EBITDA estimates of $510M/$1.975B/$2.20B incorporates improvement from bottoms in 1Q25, although we remain somewhat skeptical of the $2 quarterly EPS run-rate target until CE is able to put up some volume improvement over the next few quarters. That said, we are raising our price target to $63 from $53, now based on a 7.5x FY26E EBITDA (from 8.0x FY25E)."

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