Celanese price target lowered to $45 from $75 at Evercore ISI

Evercore ISI analyst Eric Boyes lowered the firm’s price target on Celanese (CE) to $45 from $75 and keeps an In Line rating on the shares. Q3 marked a shift from earnings-driven moves among chemicals companies, with two-thirds of about 20 chemical names rallying 6% on average post-results, despite half guiding below expectations for Q4 and negative revisions averaging 12%, the analyst tells investors in an earnings recap note for the group.