RBC Capital analyst Arun Viswanathan upgraded Celanese to Outperform from Sector Perform with a price target of $125, up from $98. The analyst cites better than expected M&M integration, double-digit growth anticipated in the engineered materials segment, a Q1 trough in acetyl chain EBIT, and "solid deleveraging" for the upgrade. He believes Celanese’s fundamentals have troughed.
Published first on TheFly
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