Celanese downgraded to Sell at Vertical Research as fundamental pressure mounts

As previously reported, Vertical Research downgraded Celanese (CE) to Sell from Hold with a $130 price target Shares have underperformed in 2024, but the firm’s research suggests that fundamental pressure continues to mount in both of the company’s two segments of Engineered Materials and “especially” Acetyl Chain, the analyst tells investors. The firm also has not been encouraged by recent “reads across” from chemical industry peers in the early part of the Q3 earnings season, the analyst added.