Celanese price target lowered to $165 from $168 at RBC Capital

RBC Capital lowered the firm’s price target on Celanese to $165 from $168 after its Q4 earnings miss but keeps an Outperform rating on the shares. Demand headwinds for the company are likely to persist into Q1, though earnings should improve in 2024 even if demand remains muted from Mobility & Materials acquisition synergies, lower debt service costs, and fixed cost and inventory reduction, the analyst tells investors in a research note.