Citigroup Maintains Neutral on Celanese, Raises Price Target to $145
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Patrick Cunningham has maintained a Neutral rating on Celanese Corporation (NYSE:CE) and increased the price target from $130 to $145. This adjustment reflects a more positive outlook on the company's future performance while still not fully endorsing a buy position.
December 13, 2023 | 1:03 pm
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Celanese Corporation's price target has been raised from $130 to $145 by Citigroup, although the rating remains Neutral, indicating a potential upside but with caution.
The increase in price target by a major financial institution like Citigroup generally suggests a positive outlook on the stock's value and can lead to increased investor confidence, potentially driving the stock price up in the short term. However, the Neutral rating implies that there are still some reservations or potential risks that prevent a full buy recommendation, which may temper the market's reaction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100