Celanese Corp. (CE 96.80) reached its Minimum Sell Price of 96.66 today, June 19. First quarter sales and earnings were mixed, but the stock received a boost when the company announced favorable price increases for many of its products. Also, Celanese formed a new joint venture with Blackstone to combine their cellulose acetate tow units. CE’s stock price has surged 58% during the past nine months and is now over-valued.
Celanese was first recommended in April 2014 at 55.03. The company was featured in the Cabot Enterprising Model using the Graham-Buffett analysis. CE has advanced 75.65% in the past 38 months compared to a gain of 34.34 % for the Standard & Poor’s 500 Index during the same time period.
I recommend selling your CE shares now.