Celanese price target lowered to $135 from $140 at Baird

Baird lowered the firm’s price target on Celanese to $135 from $140 and keeps an Outperform rating on the shares. The firm said while investor sentiment on the shares will likely remain subdued until volumes start to inflect higher, Baird believes that the various self-improvement initiatives being implemented by the company, including footprint optimization, should sum to meaningfully higher operating leverage