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Celanese (CE) Gets a Hold Rating from Stifel Nicolaus

Stifel Nicolaus analyst Vincent Anderson maintained a Hold rating on Celanese (CEResearch Report) yesterday and set a price target of $146.00. The company’s shares closed last Wednesday at $110.62, close to its 52-week low of $104.74.

According to TipRanks.com, Anderson is a 5-star analyst with an average return of 24.4% and a 59.1% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Eastman Chemical, Stepan Company, and Limoneira Co.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celanese with a $144.94 average price target, which is a 29.3% upside from current levels. In a report issued on August 1, Citigroup also downgraded the stock to Hold with a $118.00 price target.

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The company has a one-year high of $176.50 and a one-year low of $104.74. Currently, Celanese has an average volume of 1.09M.

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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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