JP Morgan Downgrades Celanese to Underweight, Raises Price Target to $160
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Jeffrey Zekauskas downgraded Celanese (NYSE:CE) from Neutral to Underweight but raised the price target from $135 to $160. This indicates a bearish outlook on the stock despite the increased price target.
April 04, 2024 | 11:32 am
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Celanese downgraded by JP Morgan to Underweight from Neutral, with a raised price target to $160 from $135.
The downgrade to Underweight from Neutral by a major analyst like JP Morgan suggests a bearish outlook on Celanese, despite the raised price target. This could lead to short-term negative sentiment among investors, potentially impacting the stock's price negatively.
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