RBC Capital lowered the firm’s price target on Celanese to $165 from $168 after its Q4 earnings miss but keeps an Outperform rating on the shares. Demand headwinds for the company are likely to persist into Q1, though earnings should improve in 2024 even if demand remains muted from Mobility & Materials acquisition synergies, lower debt service costs, and fixed cost and inventory reduction, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CE: