In a report released today, Arun Viswanathan from RBC Capital maintained a Buy rating on Celanese (CE), with a price target of $85.00. The company’s shares closed last Monday at $74.31.
According to TipRanks.com, Viswanathan is a 4-star analyst with an average return of 1.9% and a 50.5% success rate. Viswanathan covers the Consumer Goods sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Berry Global Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celanese with a $107.31 average price target, implying a 47.0% upside from current levels. In a report issued on March 18, Scotiabank also initiated coverage with a Buy rating on the stock with a $117.00 price target.
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Celanese’s market cap is currently $8.71B and has a P/E ratio of 9.80. The company has a Price to Book ratio of 7.14.
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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.
