Fly News Breaks for February 10, 2020
Feb 10, 2020 | 08:14 EDT
BMO Capital analyst John McNulty lowered his price target on Celanese to $123 and kept his Market Perform rating after its Q4 earnings miss and FY20 guidance, saying the management's outlook appears to be "aggressive" given the uncertain macro conditions. The analyst notes that the $11 EPS forecast for next year is back-half loaded in assuming some "lift" from the expected efficiency improvements and asset optimization, though the target is "not impossible". McNulty adds that Celanese management is "one of the best at creating value", but it may be difficult for the company to outperform amid the "collapsing commodity environment and a questionable macro 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.