Form 8-K Celanese Corp For: Nov 01

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Go back to Form 8-K Celanese Corp For: Nov 01

Deutsche Bank Upgrades Celanese (CE) to Buy

November 6, 2024 4:53 AM EST

Deutsche Bank analyst David Begleiter upgraded Celanese (NYSE: CE) from Hold to Buy with a price target of $110.00 (from $135.00).

The analyst comments "We are upgrading Celanese to Buy from Hold following the shares' 26% decline post its Q3 earnings release. The reasons for our upgrade are as follows: 1) It was not a surprise Celanese missed Q3 and guided Q4 below consensus as the drivers of the shortfalls - a rapid slowdown in Western Hemisphere automotive and industrial markets, with the European auto sector particularly affected, and weak demand in paints, coatings and... More