Celanese price target raised to $75 from $70 at Wells Fargo

Wells Fargo analyst Michael Sison raised the firm’s price target on Celanese (CE) to $75 from $70 and keeps an Overweight rating on the shares. Despite the fact that the Engineered Materials end markets remain challenged, the firm thinks Celanese is well positioned to benefit from tighter global acetic acid and methanol supply dynamics, while remaining relatively insulated from issues impacting China and the Middle East.