Celanese (CE) PT Raised to $138 at Goldman Sachs Following 1Q
Goldman Sachs raised its price target on Celanese (NYSE: CE) to $138.00 (from $137.00) while maintaining a Buy rating following the company's 1Q earnings release. CE reported adjusted 1Q EPS of $2.79, meaningfully above the Street estimates of $2.33.
Goldman Sachs' updated estimates imply a 12% upside to the mid-point of CE’s substantially increased 2018 EPS guidance (now expecting 2018 adjusted EPS growth of 20-25% compared to 12%-16% previously) and are nearly 20% above current 2018/2019 consensus estimates.