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Fly News Breaks for February 3, 2020
Feb 3, 2020 | 06:25 EDT
BofA analyst Matthew DeYoe upgraded Celanese to Neutral from Underperform with a $110 price target. The analyst notes that while the Q4 earnings miss was not surprising amid slowing of demand, the company's outlook for 2020 implying a "sustained rebound" in acetic margins was not expected. DeYoe adds that the productivity gains anticipated by Celanese management were "impressive", even though in a soft volume environment, cost initiatives often fail to accrue as the management intends. The analyst further notes that the company's valuation now reflects its challenging operating backdrop.
News For CE From the Last 2 Days
Sep 23, 2021 | 18:00 EDT
Celanese announced that it has lifted force majeure for the following products in the Western Hemisphere: Acetic Acid; Ethyl Acetate; Acetic Anhydride; Methyl Acetate; Dimethylamine and Trimethylamine; Methyl Isobutyl Carbinol and Methyl Isobutyl Ketone; and Paraformaldehyde. Celanese declared force majeure on February 18 due to the impacts of extreme winter weather on its operations and supply chain in the U.S. Gulf Coast.