Piper Sandler upgrades Celanese to Neutral, raises price target to $135

As previously reported, Piper Sandler analyst Charles Neivert upgraded Celanese to Neutral from Underweight with a price target of $135, up from $112. Although the firm believes the company is still far from out of the woods regarding its recovery from acquisition related challenges, Piper thinks that the downside risk has moderated, and the risk/reward profile has shifted to a more neutral state.