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Fly News Breaks for July 24, 2019
CE
Jul 24, 2019 | 06:33 EDT
JPMorgan analyst Jeffrey Zekauskas upgraded Celanese to Overweight from Neutral and raised his price target for the shares to $120 from $102. The company's operating performance has proven to be "surprisingly durable," Zekauskas tells investors in a research note. The analyst believes Celanese is a good free cash flow generator and thinks its free cash flow yield is likely to be about 7% of its share price for 2019 and 2020. The company is also exploring various structural routes to create shareholder value, adds Zekauskas.
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