BofA analyst Salvator Tiano raised the firm’s price target on Celanese (CE) to $61 from $55 and keeps a Buy rating on the shares. The company’s Q1 results topped expectations and, primarily, the Q2 guidance was significantly better than expected, says the analyst, whose “key conclusion” from the report is that Celanese’s path to delever remains on track and refinancing will “not be a hurdle.”
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CE:
- Celanese Shareholders Approve Key Governance Amendments
- Celanese price target raised to $62 from $59 at Barclays
- Celanese price target raised to $45 from $40 at Wells Fargo
- Celanese price target raised to $76 from $71 at KeyBanc
- Celanese Hold Rating: Balancing Strategic Initiatives Against Macroeconomic Challenges