Celanese price target lowered to $131 from $139 at RBC Capital

RBC Capital analyst Arun Viswanathan lowered the firm’s price target on Celanese to $131 from $139 but keeps an Outperform rating on the shares. The company’s Q4 earnings and Q1 guidance were below consensus, but Celanese is also seeing improving demand and expects better M&M integration, the analyst tells investors in a research note. The firm adds that the company’s earnings should continue to improve through 2023.