Celanese price target lowered to $46 from $73 at BMO Capital

BMO Capital lowered the firm’s price target on Celanese (CE) to $46 from $73 and keeps an Underperform rating on the shares after its Q4 results and below-consensus guidance. The management and the Board are pulling a lot of levers, but the macro headwinds as well as excess capacity in its platforms are steadily increasing the risks for equity investors in the near term, and with significant capacity coming in acetyls, the upside in the out years is muted, the analyst tells investors in a research note.