BMO Capital lowered the firm's price target on Celanese to $57 from $80 and keeps a Market Perform rating on the shares as part of a broader research note on US Chemicals previewing Q2 results. The firm notes that general macro trends appear to be largely in line with expectations, with end-markets like housing and autos on the softer side and electronics and aerospace on the stronger side, the analyst tells investors in a research note. BMO adds that most companies will likely remain conservative, with oil having come off its highs by $30 per barrel, as the Iran conflict appears to be leaning toward peace, noting that this is a positive for Specialty/Coatings in the second half while negatively impacting Q2 and second-half outlooks for many of the commodity names.
