Jefferies Reiterates a 'Buy' on Celanese (CE); Favorable SCC Settlement Ahead of Investor Day

Jefferies reiterates a 'Buy' on Celanese (NYSE: CE) price target of $50.00.

Analyst, Laurance Alexander, said, "With the SCC litigation settled, the focus shifts to Celanese's upcoming investor day, which we expect to reconcile capital discipline with the large TCX opportunity and address concerns on FCF generation. We view valuation as still attractive at only 10.9x 2012E (a trough-like year in AI) and 8.9x 2013E."

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 $40.69 yesterday.

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