On Nov 06, major Wall Street analysts update their ratings for $Celanese Corp (CE.US)$, with price targets ranging from $92 to $170.
Morgan Stanley analyst Vincent Andrews maintains with a hold rating, and adjusts the target price from $140 to $100.
J.P. Morgan analyst Jeffrey Zekauskas upgrades to a hold rating, and adjusts the target price from $156 to $92.
Barclays analyst Michael Leithead maintains with a hold rating, and adjusts the target price from $151 to $101.
Deutsche Bank analyst David Begleiter upgrades to a buy rating, and adjusts the target price from $135 to $110.
Evercore analyst Stephen Richardson maintains with a hold rating, and maintains the target price at $170.
Furthermore, according to the comprehensive report, the opinions of $Celanese Corp (CE.US)$'s main analysts recently are as follows:
The expectation is that Celanese's EPS potential has been recalibrated from the peak influenced by COVID demand and supply disruptions in 2021 to a projected range for 2025. The stock is anticipated to remain mostly stable until there is more clarity regarding the macroeconomic conditions and the funding landscape.
The company's recent earnings report is viewed as not significantly altering the perception of asset quality. However, it necessitates a reevaluation of the capital structure and shareholder confidence in management.
The valuation grounds for an optimistic outlook on Celanese are a consequence of the stock's significant drop subsequent to the Q3 earnings announcement. The Q3 miss and subsequent Q4 guidance falling short of consensus weren't unforeseen, as the contributing factors—marked deceleration in the automotive and industrial sectors of the Western Hemisphere, notably within the European automotive industry, along with subdued demand in the paints, coatings, and construction markets—have been recurrent themes among chemical companies during this earnings period.
The adjusted operating environment prompted a proactive dividend reduction, yet there remains an acknowledgment of Celanese's consistent strong performance internally. In light of potentially favorable growth-oriented events, such as China's economic stimulus and global interest rate reductions, there's an anticipation of a swifter earnings recovery compared to the recalibrated expectations.
Following the company's Q3 report, it's observed that the dividend has been almost entirely removed, accompanied by the implementation of a debt liquidity strategy.
Here are the latest investment ratings and price targets for $Celanese Corp (CE.US)$ from 5 analysts:
Note:
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