Alembic Global Believes Celanese (NYSE: CE) Still Has Room to Grow

In a report released today, Hassan Ahmed from Alembic Global maintained a Buy rating on Celanese (CEResearch Report), with a price target of $200.00. The company’s shares closed last Friday at $156.65, close to its 52-week high of $160.78.

According to TipRanks.com, Ahmed is a 4-star analyst with an average return of 11.7% and a 52.0% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Westlake Chemical, and Venator Materials.

Celanese has an analyst consensus of Moderate Buy, with a price target consensus of $176.21, implying a 12.1% upside from current levels. In a report issued on April 19, BMO Capital also assigned a Buy rating to the stock with a $175.00 price target.

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The company has a one-year high of $160.78 and a one-year low of $69.69. Currently, Celanese has an average volume of 779K.

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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities .The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates. The Acetate Tow segment serves consumer-driven applications and is a global producer and supplier of acetate tow and acetate flake, primarily used in filter products applications. The Acetyl Chain segment includes the integrated chain of intermediate chemistry, emulsion polymers and ethylene vinyl acetate (EVA) polymers businesses, based on similar products, production processes, classes of customers and selling and distribution practices as well as economic similarities over a normal business cycle and The Other Activities segment primarily consists of corporate center costs, including administrative activities such as finance, information technology and human resource functions, interest income and expense associated with financing activities. The company was founded by Camille Dreyfus and Henri Dreyfus in 1956 and is headquartered in Irving, TX.