Jefferies Maintains a 'Buy' on Celanese (CE); Cutting Estimates to Reflect Likely Headwinds

Jefferies maintains a 'Buy' on Celanese (NYSE: CE) price target of $65.00.

Analyst, Laurence Alexander, said, "Given the combination of a lack of acetic acid margin improvement, and what looks to be a weaker-than-expected recovery in Asian demand (normal seasonality, without sharp restocking), we are lowering Q1E EPS $0.03 to $0.79 and Q2E $0.08 to $1.48. Profits in Acetyl Intermediates will not likely normalize until the end of Q2. This does not alter our 12-18 month thesis, and we continue to recommend buying, especially on dips."

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 $46.09 yesterday.

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