RYAM - Celanese raises acetate tow prices; analyst sees price hike sticking

Celanese ([[CE]] +4.9%) lifts to its highest level since January after announcing it will raise prices of all acetate tow product grades sold globally by up to 5%, effective Jan. 1.Celanese is upgraded to Overweight from Sector Weight with a $130 price target at KeyBanc, citing factors including its belief that acetyls offer a favorable supply/demand outlook for 2021-23.The company's move has potential positive implications for Rayonier Advanced Materials ([[RYAM]] +3%), Bank of America says, noting the company gets more than half of its cellulose specialty product sales from acetate."We have not yet heard of price increase announcements by other acetate tow producers which, in our view, could increase the likelihood that the price hike is successful," BofA says.In a recent analysis posted on Seeking Alpha, Laura Starks recommends Celanese to long-term investors looking for capital appreciation, a modest dividend, and solid operational growth prospects across a diversified slate of chemicals,

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Celanese raises acetate tow prices; analyst sees price hike sticking