KeyBanc analyst Aleksey Yefremov upgraded Celanese (CE) to Overweight from Sector Weight with a $76 price target The firm believes that Celanese’s earnings expectations have reached “a reasonable trough level” from which they are likely to see modest recovery in the near-term, the analyst tells investors. The firm also believes that the recent debt refinancing alleviates the worst downside case scenarios and thinks Celanese would be a major beneficiary from a potential peace in Ukraine and better demand in China due to recent government stimulus, the analyst added.
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