KeyBanc raised the firm’s price target on Celanese to $150 from $149 and keeps an Overweight rating on the shares. The firm maintains its Q3 and 2023 EBITDA estimates following its upgrade note last month. KeyBanc stands 1% below both the Q3 and 2023 consensus EBITDA estimates. The firm’s recently revised and bullish stance on Celanese is driven by a meaningful recovery to normalized EPS of $16-$19 within the next two to three years.
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