BofA analyst Matthew DeYoe raised the firm’s price target on Celanese to $132 from $130 and keeps a Neutral rating on the shares. The firm sees several signs that petrochemical fundamentals are “near the bottom,” but notes that while the firm’s petrochemical sentiment index bottomed in July it has not yet flipped to a bullish outlook. In that context, the “challenge will be striking a balance between buying trough earnings and weathering poor” Q3 results, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CE:
- Celanese price target raised to $150 from $149 at KeyBanc
- Celanese reports agreement with Population Council for VitalDose DDP
- Constellation Brands upgraded, Block downgraded: Wall Street’s top analyst calls
- Celanese upgraded to Overweight from Sector Weight at KeyBanc
- Buy/Sell: Wall Street’s top 10 stock calls this week