Baird analyst Ghansham Panjabi maintains $Celanese Corp (CE.US)$ with a buy rating, and adjusts the target price from $150 to $110.
According to TipRanks data, the analyst has a success rate of 60.2% and a total average return of 7.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Celanese Corp (CE.US)$'s main analysts recently are as follows:
The firm posits that Celanese has adjusted its EPS expectations from the peak influenced by the COVID demand and supply disruptions in 2021 to a forecasted range for the year 2025. The expectation is that the stock will likely remain within a certain range until there is more clarity on the broader economic conditions and the funding landscape.
The recent earnings report for Celanese does not significantly change the perception of the company's asset quality. However, it necessitates a reassessment of the capital structure and shareholder confidence in the management.
The recent assessment of Celanese responded to the stock's significant drop in value after the third-quarter earnings announcement. The recent financial performance, which fell short of expectations for the third quarter and forecasted the fourth quarter below consensus, was not unexpected. The primary reasons for the shortfall, including a swift deceleration in the automotive and industrial sectors of the Western Hemisphere, with a notable impact on the European automotive industry, and subdued demand in the paints, coatings, and construction sectors, have been a common theme reported by numerous chemical companies during this earnings period.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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