BMO Capital analyst John McNulty lowered the firm’s price target on Celanese to $146 from $152 but keeps an Outperform rating on the shares. The company’s Q4 results were "tough" and its Q1 outlook was "equally challenging", but its management’s tone remains confident and reassuring around the upcoming recovery, the analyst tells investors in a research note. The firm adds that the tweaking of covenants and strengthening of balance sheet by Celanese also reduces the company’s balance sheet risk.
Published first on TheFly
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