Celanese Corp. (NYSE:CE) is one of the 10 Stock Winners in a Brutal Market.
Celanese soared by 14.75 percent on Thursday to finish at $59.60 apiece as investors took heart from an analyst upgrade on optimism that it would benefit from the ongoing tensions in the Middle East, with the investment firm naming it as the top pick in the chemical sector.
In a market report, Citigroup raised its price target for Celanese Corp. (NYSE:CE) to $81 from $75 previously, while maintaining its “buy” recommendation.
The coverage reflected its optimism that the company would benefit from higher profit margins as a result of the ongoing tensions in the Middle East that are disrupting global supply and propelling oil prices higher.
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Citigroup said that such factors could boost margins for North American chemical producers with access to low-cost natural gas feedstocks.
Apart from Celanese Corp. (NYSE:CE), Citigroup also raised its ratings and price targets for Dow Inc., LyondellBasel Industries, Olin Corp., Westlake, and Eastman Chemical.
Celanese Corp. (NYSE:CE) is a global chemical and specialty materials company producing high-performance polymers, acetyl products, and emulsion polymers for various industries such as automotive, electronics, and consumer goods.
Last year, the company narrowed its attributable net loss by 25 percent to $1.16 billion from $1.54 billion in 2024. Net sales decreased by 7.5 percent to $9.5 billion from $10.27 billion.
In the fourth quarter alone, it swung to an attributable net income of $19 million from a $1.9 billion net loss in the same period in 2024. Net sales dropped by 6.8 percent to $2.2 billion from $2.3 billion.
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