UPDATE: Dahlman Rose Raising Price Target On Celanese Corporation (CE)

Dahlman Rose & Co. is raising its price target on shares of Celanese Corporation CE to $60 from $50, and it has a Buy rating on shares after it reported earnings. In a note to investors, Dahlman Rose writes, "We view CE shares attractive and would be buyers ahead of its Investor Day on May 10 where management will discuss longer term opportunities. We expect volume expansions and new product innovation to drive sustainable mid-teen earnings growth well into 2015. As such, we have raised our price target from $50/share to $60/share which implies 2012 P/E and EV/EBITDA multiples of 12.6x and 8.4x that are generally in line with peer multiples." Shares of CE closed at $49.43 yesterday.