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Celanese (NYSE:CE) on Thursday was downgraded by analysts at financial services firms J.P. Morgan and Barclays. The downgrades come after Celanese’s (CE) stock rose as much as 72% in the past 12 months.
J.P. Morgan
Celanese (CE) was downgraded to Underweight from a previous investment rating of Neutral by J.P. Morgan, which raised its price target on the stock to $160 a share from $135 a share. The target is based on a sum-of-the-parts analysis that uses different multiples for Celanese’s (CE) engineered materials segment and the acetyl chain segment.
“Celanese (CE) is reflecting 2026 earnings and then some, which may limit capital appreciation potential and lead to underperformance in a market in which cyclical risks rise,” Jeffrey Zekauskas, analyst at J.P. Morgan, said in an April 4 report.
Barclays
Celanese (CE) was downgraded to Equal Weight from a previous rating of Overweight by Barclays, which maintained its price target of $170 a share.
We “continue to view as one of the higher-quality cyclical names in chemicals, although valuation leaves upside more limited after the recent rally,” Michael Leithead, analyst at Barclays, said in an April 4 report.
Barclays also downgraded packaging company Ball (BALL) to Equal Weight from a previous rating of Overweight.