SunTrust Robinson Sticks to Their Hold Rating for Celanese Corp (CE)


In a report released today, James Sheehan from SunTrust Robinson maintained a Hold rating on Celanese Corp (CE), with a price target of $120.00. The company’s shares closed last Monday at $121.25, close to its 52-week high of $127.15.

According to TipRanks.com, Sheehan is a 4-star analyst with an average return of 6.1% and a 56.5% success rate. Sheehan covers the Consumer Goods sector, focusing on stocks such as DuPont de Nemours, Inc., Kraton Corporation, and Eastman Chemical.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celanese Corp with a $122.00 average price target, implying a 1.9% upside from current levels. In a report issued on October 1, Goldman Sachs also downgraded the stock to Hold with a $129.00 price target.

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Based on Celanese Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.59 billion and net profit of $209 million. In comparison, last year the company earned revenue of $1.77 billion and had a net profit of $401 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.

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