RBC Capital Cuts Celanese Price Target By 42% - Read Why
RBC Capital analyst Arun Viswanathan downgraded Celanese Corp (NYSE: CE ) to Sector Perform from Outperform and lowered the price target to $116 (8% upside) from $200. The analyst downgraded the ratings reflecting anticipated peak acetic|VAM prices, higher natural gas costs, and higher expected leverage. Viswanathan mentions that according to IHS, North America Acetic and VAM contract prices are expected to peak in 2Q22-3Q22 at ~$1000|mt and ~$1600|mt, respectively, and … Full story available on Benzinga.com
RBC Capital Cuts Celanese Price Target By 42% - Read Why
RBC Capital analyst Arun Viswanathan downgraded Celanese Corp (NYSE: CE ) to Sector Perform from Outperform and lowered the price target to $116 (8% upside) from $200. The analyst downgraded the ratings reflecting anticipated peak acetic|VAM prices, higher natural gas costs, and higher expected leverage. Viswanathan mentions that according to IHS, North America Acetic and VAM contract prices are expected to peak in 2Q22-3Q22 at ~$1000|mt and ~$1600|mt, respectively, and … Full story available on Benzinga.com