Jefferies Starts Celanese (CE) at Hold

Jefferies initiates coverage on Celanese (NYSE: CE) with a Hold. PT $50.00.

The firm comments, "Celanese has been too successful: after a period of winning investor acceptance for its technology advantage, operational structure, productivity culture and optionality, the company appears to have fewer trumps available, and more strategic uncertainty, when faced with the risk of a cyclical downturn. We launch coverage with a Hold rating and $50 price target."

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 $46.48 yesterday.

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