After Wells Fargo and Evercore ISI gave Celanese (NYSE: CE) a Buy rating last month, the company received another Buy, this time from Alembic Global. Analyst Hassan Ahmed maintained a Buy rating on Celanese yesterday. The company’s shares closed last Tuesday at $115.42.
According to TipRanks.com, Ahmed has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -5.9% and a 42.5% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Westlake Chemical, Venator Materials, and LyondellBasell.
Currently, the analyst consensus on Celanese is a Moderate Buy with an average price target of $112.06, implying a -3.8% downside from current levels. In a report issued on October 7, KeyBanc also upgraded the stock to Buy with a $130.00 price target.
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Celanese’s market cap is currently $13.94B and has a P/E ratio of 22.40. The company has a Price to Book ratio of 13.00.
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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities .The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates. The Acetate Tow segment serves consumer-driven applications and is a global producer and supplier of acetate tow and acetate flake, primarily used in filter products applications. The Acetyl Chain segment includes the integrated chain of intermediate chemistry, emulsion polymers and ethylene vinyl acetate (EVA) polymers businesses, based on similar products, production processes, classes of customers and selling and distribution practices as well as economic similarities over a normal business cycle and The Other Activities segment primarily consists of corporate center costs, including administrative activities such as finance, information technology and human resource functions, interest income and expense associated with financing activities. The company was founded by Camille Dreyfus and Henri Dreyfus in 1956 and is headquartered in Irving, TX.
