Citigroup Maintains Celanese Corporation to Buy with Price Target $77.00

Brokerage firm Citigroup Maintains its rating on Celanese Corporation(NYSE:CE). In a research note issued to the investors, the brokerage major Lowers the price-target to $77.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jul 28, 2016.

In a different note, On Jul 27, 2016, Barclays said it Maintains its rating on Celanese Corporation. In the research note, the firm Lowers the price-target to $82.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 27, 2016, JP Morgan said it Maintains its rating on Celanese Corporation. In the research note, the firm Lowers the price-target to $75.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 15, 2016, Citigroup said it Maintains its rating on Celanese Corporation. In the research note, the firm Lowers the price-target to $82.00 per share. The shares have been rated ‘Buy’ by the firm.

Celanese Corporation (CE) made into the market gainers list on Thursdays trading session with the shares advancing 0.49% or 0.31 points. Due to strong positive momentum, the stock ended at $64.05, which is also near the day’s high of $64.35. The stock began the session at $63.57 and the volume stood at 7,05,035 shares. The 52-week high of the shares is $74.55 and the 52 week low is $54.35. The company has a current market capitalization of $9,270 M and it has 14,47,36,670 shares in outstanding.

Celanese Corporation(CE) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.35B. Analysts had an estimated revenue of $1.42B. Earnings per share were $1.59. Analysts had estimated an EPS of $1.55.

Several Insider Transactions has been reported to the SEC. On Mar 17, 2016, David F Hoffmeister (director) sold 8,300 shares at $64.05 per share price.Also, On Mar 4, 2016, Lori A Johnston (SVP, Human Resources) sold 29,063 shares at $61.65 per share price.On Sep 1, 2015, Christopher W Jensen (SVP, Finance and CFO) sold 5,100 shares at $60.86 per share price, according to the Form-4 filing with the securities and exchange commission.

Celanese Corporation is a technology and specialty materials company. The Company’s business involves processing chemical raw materials such as methanol carbon monoxide and ethylene and natural products including wood pulp into chemicals thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials Consumer Specialties Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene ultra-high molecular weight polyethylene polybutylene terephthalate and liquid crystal polymers among others. Consumer Specialties’ products include acetate tow acetate flakes acetate film and high intensity sweeteners among others. Industrial Specialties’ products include conventional emulsions vinyl acetate ethylene emulsions and ethylene vinyl acetate among others. Acetyl Intermediates include acetic acid vinyl acetate monomer acetic anhydride and acetaldehyde among others.

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