Celanese Corp. Receives a Buy from Cowen & Co.By Austin Angelo
Cowen & Co. analyst Charles Neivert reiterated a Buy rating on Celanese Corp. (NYSE: CE) today and set a price target of $88. The company’s shares closed yesterday at $79.32, close to its 52-week high of $80.07.
According to TipRanks.com, Neivert is a 4-star analyst with an average return of 5.8% and a 58.8% success rate. Neivert covers the Basic Materials sector, focusing on stocks such as Prospect Global Resources, Westlake Chemical Corp., and DOW Chemical Company.
Celanese Corp. has an analyst consensus of Strong Buy, with a price target consensus of $81.20.
Celanese Corp.’s market cap is currently $11.36B and has a P/E ratio of 26.34. The company has a book value ratio of 4.1914.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. Last month, Lori Johnston, the SVP HR of CE sold 83,829 shares for a total of $6,060,837.
Celanese Corp. is a technology and specialty materials company that engineers and manufactures a wide variety of products essential to everyday living. It operates through the following segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates, and Other Activities. The Advanced Engineered Materials segment uses advanced polymer technology to produce a broad portfolio of high performance specialty polymers used in a wide spectrum of applications, including automotive, medical and electronics products, as well as other consumer and industrial applications. The Consumer Specialties segment includes Acetate Products and Nutrinova businesses, which serves consumer-driven applications. The Industrial Specialties segment, which includes the Emulsions and EVA Performance Polymers businesses, is active in every major global industrial sector and serves diverse industrial and consumer end-use applications. The Acetyl Intermediates segment produces and supplies acetyl products, including acetic acid, VAM, acetic anhydride, and acetate esters. The Other Activities segment includes other activities made by the firm. The company was founded in 2005 and is headquartered in Irving, TX.