Celanese (CE) Receives a Buy from UBS


In a report released today, John Roberts from UBS maintained a Buy rating on Celanese (CE), with a price target of $91.00. The company’s shares closed last Tuesday at $81.67.

According to TipRanks.com, Roberts is a 3-star analyst with an average return of 1.3% and a 59.1% success rate. Roberts covers the Industrial Goods sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and DuPont de Nemours.

Celanese has an analyst consensus of Moderate Buy, with a price target consensus of $93.19, which is a 10.3% upside from current levels. In a report issued on April 15, Robert W. Baird also maintained a Buy rating on the stock with a $100.00 price target.

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Based on Celanese’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.43 billion and net profit of $43 million. In comparison, last year the company earned revenue of $1.69 billion and had a net profit of $99 million.

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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.

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