Celanese Corp. (NYSE:CE) is one of them 10 Stock Winners in a Cruel Market.
Celanese rose 14.75 percent to close at $59.60 apiece on Thursday as investors cheered analyst optimism that it would benefit from ongoing tensions in the Middle East, with an investment firm naming it as a top pick in the chemicals sector.
In a market report, Citigroup raised its price target for Celanese Corporation (NYSE:CE) to $81 from $75 previously, while maintaining a “buy” recommendation.
The coverage reflects optimism that the company will benefit from higher profit margins in the wake of ongoing violence in the Middle East that is disrupting global supply and driving up oil prices.
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Citigroup said such factors could boost margins for North American chemical producers that have access to low-cost natural gas feedstock.
Celanese Corp. (NYSE:CE) In addition, Citigroup also raised its ratings and prices for Dow Inc., LyondellBasel Industries, Olin Corp., Westlake, and Eastman Chemical.
Celanese Corp. (NYSE:CE) is a global chemicals and specialty materials company that produces high-performance polymers, ester products, and emulsion polymers for a variety of industries such as automotive, electronics, and consumer goods.
Last year, the company cut its attributable net loss by 25 percent to $1.16 billion in 2024 from $1.54 billion. Net sales fell 7.5 percent to $9.5 billion from $10.27 billion.
In the fourth quarter alone, it reached $19 million in attributable net income, up from a net loss of $1.9 billion in the same period in 2024. Net sales fell 6.8 percent to $2.2 billion from $2.3 billion.
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