Celanese (CE) is increasing its prices across a range of acetyl chain products, with adjustments taking effect immediately or as contract terms allow, the company said Monday.
Price increases range from $0.02 to $0.20 per pound in the US and Canada, effective immediately.
Shares of Celanese were up 2% in Monday trading.
Price: $58.20, Change: $+1.03, Percent Change: +1.80%
Price: $15.96, Change: $+0.21, Percent Change: +1.30%
Celanese's (CE) H2 guidance looks conservative but its engineered materials business faces some headwinds from inventory drawdowns, RBC Capital Markets said in a Friday note.The report said the company's H2 EPS guide of about $3.00 is likely below buy-side expectations while its guidance for Q2 of about $2.20 is encouraging."Overall, CE continues to see subdued end-use demand,with pockets of strength in vinyl emulsions, redispersible powders, medical, electronics, data-centers, and some industrial applications," the note said.The report also said improving free cash flow generation is facilitating its deleveraging plan.RBC reiterated its sector perform rating and raised its price target to $68 per share from $66.Price: $59.43, Change: $+2.26, Percent Change: +3.95%
Price: $6.69, Change: $+0.04, Percent Change: +0.68%