Alembic Global analyst Hassan Ahmed maintained a Sell rating on Celanese Corp (NYSE: CE) today and set a price target of $103. The company’s shares opened today at $97.17, close to its 52-week low of $95.45.
Ahmed noted:
“We expect Celanese shares to rise as a result of its Q3’18 earnings beat and favorable commentary. We also see CE’s results as providing a positive read for LyondellBasell (LYB, Overweight, TP USD145 per share).”
According to TipRanks.com, Ahmed is a 3-star analyst with an average return of 2.8% and a 48.2% success rate. Ahmed covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical Corp, Venator Materials Plc, and LyondellBasell.
Celanese Corp has an analyst consensus of Moderate Buy, with a price target consensus of $128.80.
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Celanese Corp’s market cap is currently $13.47B and has a P/E ratio of 11.68. The company has a Price to Book ratio of 3.88.
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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates, and Other.
