Credit Suisse Maintains an 'Outperform' on Celanese (CE); Returns to Expand, Along with Its Multiple
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Price: $153.89 --0%
Rating Summary:
11 Buy, 14 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 17 | New: 4
Rating Summary:
11 Buy, 14 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 17 | New: 4
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Credit Suisse maintains an 'Outperform' on Celanese (NYSE: CE), PT increased from $58 to $65.
Credit Suisse analyst says, "Following CE's investor day (we highlighted as a catalyst in our 4/2 webcast) it remains clear that despite the solid run in the stock, significant upside remains looking out over the next 12-months and next few years."
"With the above as well as solid growth from the new technologies/platforms (in AEM), various other expansions, and emerging market growth (mostly China), CE updated its 2013 guidance to "at least $6 of EPS" (vs. its prior $5.50-6.50 guidance) with the street at $5.64, and we believe there is upside to that especially with any price hikes going forward...Further, we believe CE will reach the mid-$70s in the next 24-months as it gets closer to the launch of their ethanol platform."
For more ratings news on Celanese click here and for the rating history of Celanese click here.
Shares of Celanese closed at $52.08 yesterday.
Credit Suisse analyst says, "Following CE's investor day (we highlighted as a catalyst in our 4/2 webcast) it remains clear that despite the solid run in the stock, significant upside remains looking out over the next 12-months and next few years."
"With the above as well as solid growth from the new technologies/platforms (in AEM), various other expansions, and emerging market growth (mostly China), CE updated its 2013 guidance to "at least $6 of EPS" (vs. its prior $5.50-6.50 guidance) with the street at $5.64, and we believe there is upside to that especially with any price hikes going forward...Further, we believe CE will reach the mid-$70s in the next 24-months as it gets closer to the launch of their ethanol platform."
For more ratings news on Celanese click here and for the rating history of Celanese click here.
Shares of Celanese closed at $52.08 yesterday.
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