Celanese price target lowered to $48 from $50 at Piper Sandler

Piper Sandler analyst Charles Neivert lowered the firm’s price target on Celanese (CE) to $48 from $50 and keeps an Underweight rating on the shares. The tariffs instituted by the U.S. and the likely retaliation and peripheral economic fallout from those tariffs have the potential to create long-lasting complications for the U.S. chemical industry, which is built on the significant advantage of ethane-based chemical production and exports as a means of growing volume and revenues in an otherwise low-growth U.S. market. Piper cautions that retaliation will likely ultimately not be helpful for foreign producers either.