tiprankstipranks
Celanese downgraded to Neutral from Buy at UBS
The Fly

Celanese downgraded to Neutral from Buy at UBS

UBS downgraded Celanese (CE) to Neutral from Buy with a price target of $97, down from $161. The company’s recent results and weaker market outlooks create more concerns about the ability for it to manage its debt load, the analyst tells investors in a research note. The firm says higher leverage and this heightened risk means that Celanese’s multiple “will stay compressed for the foreseeable future.” UBS “can’t rule out further stock downside if market concerns increase.”

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App