Celanese price target lowered to $47 from $55 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on Celanese (CE) to $47 from $55 and keeps a Market Perform rating on the shares after its Q2 results and soft guidance. Risk profile for Celanese has improved from where it was 6-9 months ago with free cash flow solid in the first half, but the path forward is still challenging with weakness in end markets, making for a tough path for earnings growth, the analyst tells investors in a research note.