Celanese price target lowered to $124 from $132 at BofA

BofA lowered the firm’s price target on Celanese to $124 from $132 and keeps a Neutral rating on the shares with recovery expectations “pared back again.” Celanese’s updated 2023 opens the possibility of EPS trailing the $9 low-end of the expected range, while the firm sees limited benefits from price/cost in Q4 and 2024 so far, the analyst tells investors.