{"id":55387,"date":"2023-08-31T15:24:42","date_gmt":"2023-08-31T19:24:42","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/celanese-slashed-to-underweight-at-piper-sandler\/"},"modified":"2023-08-31T15:24:44","modified_gmt":"2023-08-31T19:24:44","slug":"celanese-slashed-to-underweight-at-piper-sandler","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55387","title":{"rendered":"Celanese slashed to Underweight at Piper Sandler"},"content":{"rendered":"
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\u00a9 Reuters. Celanese slashed to Underweight at Piper Sandler<\/span>
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Piper Sandler downgraded Celanese <\/span><\/span> (NYSE:) to Underweight from Neutral and cut its price target to $112.00 from $120.00.<\/p>\n

The firm believes that many of the actions Celanese is undertaking to raise cash will have negative repercussions on its future growth and earnings trajectory. Moreover, the company faces challenges within its operating markets that must be addressed before achieving a scenario where revenue and earnings can resume growth.<\/p>\n

\u201cWe see the situation in Europe created by an overflow of Chinese product as particularly challenging and in our view may take another 12 months or more to reverse,\u201d mentioned Piper Sandler. Consequently, the company\u2019s mix and therefore margins and earnings might remain below optimal levels for a longer period than the current market outlook suggests.<\/p>\n

\u201cThe company\u2019s choice to stretch out maintenance may also create longer-term issues around production efficiency and expensive downtime during periods of stronger profitability,\u201d added Piper Sandler.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Celanese slashed to Underweight at Piper Sandler Piper Sandler downgraded Celanese (NYSE:) to Underweight from Neutral and cut its price target to $112.00 from $120.00. The firm believes that many of the actions Celanese is undertaking to raise cash will have negative repercussions on its future growth and earnings trajectory. Moreover, the company […]<\/p>\n","protected":false},"author":1,"featured_media":3401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-55387","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCelanese slashed to Underweight at Piper Sandler | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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