Gilford Securities Downgrades Celanese To Sell (CE)

Gilford Securities downgraded Celanese CE from Hold to Sell in a research report published today. In the report, Gilford Securities states, "We upgraded our rating on CE shares from HOLD to BUY on 6/24/10 at $27.20; we then downgraded back to HOLD on 11/1/10 at $35.65. In the past nine months, the stock has gained 70%, while our 2011 estimate is almost unchanged, which is very different from the situation at Eastman (BUY), where estimates have soared during the period." Shares of Celanese closed today at $45.36, down 1.78% from Friday's market close.