Citi cuts LyondellBasell stock price target, maintains neutral stance By Investing.com
On Monday, Citi analyst Pat Cunningham adjusted the stock price target for LyondellBasell Industries (NYSE:), a major player in the chemicals sector, to $92 from the previous target of $100. Despite this change, the firm has kept its Neutral rating on the stock.
The revision follows insights gained from the company’s recent earnings call last Friday. According to the analyst, three key points emerged from the discussion. Firstly, there was a notable decline in EBITDA within the Oxyfuels and Refining segments, which surpassed the overall sequential profitability downturn for the group.
This was partly due to the Polyolefins (PO) operating rates being hampered by elevated US propylene costs, which restricted exports to Asia. The…
