FMP
BMO Capital Lowers Celanese Price Target, Cites Ongoing Macro Challenges
Aug 7, 2024 8:23 PM - Davit Kirakosyan(Last modified: Aug 8, 2024 2:15 AM)
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BMO Capital analysts adjusted their price target for Celanese (NYSE:CE) to $138 from $142 while maintaining a Market Perform rating on the stock. The analysts acknowledged that Celanese is actively utilizing all available strategies to navigate a challenging macroeconomic and operational environment, including supplier issues. However, they noted that these efforts have necessitated further downward adjustments in the company's 2024 forecasts.
Looking ahead to 2025, the analysts expressed caution, suggesting that without a significant macroeconomic recovery, current market expectations may still be set too high. Despite this, they indicated that the risk-reward profile for Celanese is improving. BMO emphasized the need for greater clarity on the 2025 outlook and a clearer path to achieving and exceeding targets before adopting a more positive stance on the stock.
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