Celanese (CE) PT Raised to $180 at Baird

Baird analyst Ghansham Panjabi raised the price target on Celanese (NYSE: CE) to $180.00 while maintaining an Outperform rating citing $12+ in earnings power.

The analyst commented, "In our opinion, the upcoming CE Analyst Day will likely underpin increased investor confidence as it relates to cyclical operating leverage, longer-term growth initiatives specific to the EM segment, and incremental capital allocation flexibility that should sum to consistent DD earnings growth through 2023 / 2024. As such, we are raising our price target on CE to $180 (15x $12+ earnings power) and reiterate our Outperform rating on the shares."

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