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Celanese (CE) Climbs 14.75% on ‘Top Pick’ Rating; to Reap Gains from Middle East Tensions
Yahoo Finance· 2026-03-13 00:45
Core Viewpoint - Celanese Corp. has been identified as a top stock pick in the chemical sector, experiencing a significant price increase of 14.75% due to an analyst upgrade and optimism regarding its potential benefits from ongoing geopolitical tensions in the Middle East [1][4]. Group 1: Analyst Upgrade and Market Response - Citigroup raised its price target for Celanese Corp. from $75 to $81 while maintaining a "buy" recommendation, reflecting confidence in the company's ability to improve profit margins amid global supply disruptions and rising oil prices [1][2]. - The upgrade is part of a broader positive outlook for North American chemical producers that have access to low-cost natural gas feedstocks, which could enhance their profit margins [4]. Group 2: Company Performance - Celanese Corp. reported a narrowing of its attributable net loss by 25% to $1.16 billion in 2024, down from $1.54 billion in the previous year, although net sales decreased by 7.5% to $9.5 billion [5]. - In the fourth quarter of 2024, the company achieved an attributable net income of $19 million, a significant turnaround from a $1.9 billion net loss in the same period of the previous year, despite a 6.8% drop in net sales to $2.2 billion [6].