Celanese price target lowered to $130 from $150 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on Celanese to $130 from $150 after its Q3 earnings miss and below-consensus guidance but keeps an Outperform rating on the shares. The company faces headwinds around macro conditions and leverage, but it also has the right management team to create opportunities and value in a global business platform, the analyst tells investors in a research note, adding that he expects its Mobility & Materials acquisition to see greater profitability.