Celanese price target lowered, added to ‘Tactical Outperform’ list at Evercore

Evercore ISI lowered the firm’s price target on Celanese (CE) to $75 from $85 and keeps an In Line rating on the shares, which the analyst is also adding to the firm’s “Tactical Outperform” list. The firm’s Outperform list addition reflects an attractive risk-reward leading into the Q1 report, says the analyst, who believes the company’s Q1 guidance “likely included a healthy margin of safety” and sees better visibility on the second half coming while arguing that debt maturity actions ease near-term leverage concerns.