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Wells Fargo Maintains Overweight Rating for Celanese: Here's What You Need To Know

Author: Benzinga Insights | February 22, 2024 01:00pm

Wells Fargo has decided to maintain its Overweight rating of Celanese (NYSE:CE) and raise its price target from $167.00 to $180.00.

Shares of Celanese are trading up 0.05% over the last 24 hours, at $150.45 per share.

A move to $180.00 would account for a 19.64% increase from the current share price.

About Celanese

Celanese is one of the world's largest producers of acetic acid and its downstream derivative chemicals, which are used in various end markets, including coatings and adhesives. The company is also one of the largest producers of specialty polymers, which are used in the automotive, electronics, medical, building, and consumer end markets. The company also makes cellulose derivatives used in cigarette filters.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: CE

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