Celanese price target raised to $63 from $53 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the firm’s price target on Celanese (CE) to $63 from $53 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q2 results among select Chemicals names. Recent conversations with investor relations teams have generally shown that demand has remained somewhat tepid through Q2, while Building and Construction activity has been somewhat muted, the analyst tells investors in a research note. The ongoing tariff uncertainty has weighed on export markets, which has resulted in North America polyurethane markets being backed up, with continued price pressure expected in the near-term, and Durables demand has yet to see a material recovery, RBC added.