In a report released yesterday, Michael Leithead from Barclays maintained a Buy rating on Celanese (CE – Research Report), with a price target of $170.00. The company’s shares closed last Friday at $149.38.
Leithead covers the Basic Materials sector, focusing on stocks such as Olin, PPG Industries, and Sherwin-Williams Company. According to TipRanks, Leithead has an average return of 5.9% and a 59.02% success rate on recommended stocks.
In addition to Barclays, Celanese also received a Buy from KeyBanc’s Aleksey Yefremov in a report issued on February 22. However, on the same day, Tudor Pickering downgraded Celanese (NYSE: CE) to a Sell.
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CE market cap is currently $16.26B and has a P/E ratio of 8.34.
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Celanese (CE) Company Description:
Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities .The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates. The Acetate Tow segment serves consumer-driven applications and is a global producer and supplier of acetate tow and acetate flake, primarily used in filter products applications. The Acetyl Chain segment includes the integrated chain of intermediate chemistry, emulsion polymers and ethylene vinyl acetate (EVA) polymers businesses, based on similar products, production processes, classes of customers and selling and distribution practices as well as economic similarities over a normal business cycle and The Other Activities segment primarily consists of corporate center costs, including administrative activities such as finance, information technology and human resource functions, interest income and expense associated with financing activities. The company was founded by Camille Dreyfus and Henri Dreyfus in 1956 and is headquartered in Irving, TX.
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