As reported earlier, SunTrust analyst James Sheehan downgraded Celanese to Hold from Buy as part of his broader research note on Chemicals. The analyst expects the company's EBITDA growth in 2019 to be "negligible", as growth in Engineered Materials is offset by lower earnings in the Acetyls Chain. Sheehan notes that Celanese was supported last year by "robust economic conditions and tight global supply resulting from significant unplanned industry outages", but sees the repeat of that performance as "unlikely" given the looser supply/demand preventing a recurrence of Acetyls-driven earnings beats.