Jefferies Reiterates a 'Buy' on Celanese (CE); Solid Beat; Adjusting Forward Estimates
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Price: $156.14 +0.77%
Rating Summary:
11 Buy, 14 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
11 Buy, 14 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Jefferies reiterates a 'Buy' on Celanese (NYSE: CE) price target of $50.00.
Analyst, Laurence Alexander, said, "Despite Q2's solid $0.07 beat, Celanese's expects 2H12 EPS <$1.76 (i.e. FY < $3.95), vs. consensus of $2.17 (FY $4.32). We are lowering 2012E $0.45 to $3.75 (as well as out year forecasts). With TCX newsflow likely, significant leverage to a recovery, and valuation attractive at only 9.5x 2012E (a trough-like year in AI) and only 12x our "recession trough" estimate, we reiterate our rating."
Lowers current qtr EPS from $1.10 to $.0.87 and FY13 from $5.05 to $4.55.
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 $35.52 yesterday.
Analyst, Laurence Alexander, said, "Despite Q2's solid $0.07 beat, Celanese's expects 2H12 EPS <$1.76 (i.e. FY < $3.95), vs. consensus of $2.17 (FY $4.32). We are lowering 2012E $0.45 to $3.75 (as well as out year forecasts). With TCX newsflow likely, significant leverage to a recovery, and valuation attractive at only 9.5x 2012E (a trough-like year in AI) and only 12x our "recession trough" estimate, we reiterate our rating."
Lowers current qtr EPS from $1.10 to $.0.87 and FY13 from $5.05 to $4.55.
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 $35.52 yesterday.
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