Celanese price target raised to $61 from $55 at BofA

BofA analyst Salvator Tiano raised the firm’s price target on Celanese (CE) to $61 from $55 and keeps a Buy rating on the shares. The company’s Q1 results topped expectations and, primarily, the Q2 guidance was significantly better than expected, says the analyst, whose “key conclusion” from the report is that Celanese’s path to delever remains on track and refinancing will “not be a hurdle.”