Fly News Breaks for July 23, 2019
Jul 23, 2019 | 08:50 EDT
Baird analyst Ghansham Panjabi said Celanese was clearly challenged by broad-based end market weakness, the extent of Engineered Materials (EM) segment volumes during Q2 could weigh on the shares. The analyst said the bar was set low for Q2 but Q3 guidance was below consensus and the shares are likely to reflect both the weak quarter and outlook. Panjabi maintained his Outperform rating and $125 price target on Celanese shares.
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