JPMorgan downgraded Celanese to Underweight from Neutral with a price target of $160, up from $135. The shares are reflecting the company’s 2026 earnings “and then some,” which may limit capital appreciation potential and lead to underperformance in a market in which cyclical risks rise, the analyst tells investors in a research note. The firm says Celanese trades at about a 1-times multiple point premium on its 2025 estimates.
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