Celanese Poised For Growth In Global Manufacturing Recovery And Organic Opportunities: Analyst
Portfolio Pulse from Lekha Gupta
KeyBanc Capital Markets analyst Aleksey Yefremov upgraded Celanese Corp (NYSE:CE) to Overweight from Sector Weight with a price target of $149. The analyst believes the company is well-positioned for global manufacturing economic recovery and organic growth opportunities. The company's debt refinancing has lowered risk-related maturities in 2023-2025 and is expected to generate enough FCF to cover maturities over the next 2+ years. The analyst revised FY23 and FY24 EBITDA and EPS estimates.
September 06, 2023 | 4:43 pm
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Celanese Corp has been upgraded to Overweight from Sector Weight by KeyBanc Capital Markets with a price target of $149. The company's debt refinancing has lowered risk-related maturities in 2023-2025 and is expected to generate enough FCF to cover maturities over the next 2+ years.
The upgrade by KeyBanc Capital Markets indicates a positive outlook for Celanese Corp. The company's focus on debt refinancing and expected FCF generation to cover maturities also adds to the positive sentiment. This could potentially lead to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100