KeyBanc lowered the firm’s price target on LyondellBasell to $74 from $85 and keeps an Underweight rating on the shares. The firm notes that LyondellBasell’s Capital Markets Day highlighted a meaningful shift in approach to growth, investments, and internal culture. The new strategy contrasts with the prior messaging of favorable supply/demand dynamics in major chains, cost advantage, cost control and asset-driven growth, KeyBanc says.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on LYB:
- LyondellBasell price target raised to $90 from $82 at Barclays
- LyondellBasell to acquire Mepol Group, terms undisclosed
- LyondellBasell, Grenergy sign five long-term solar power purchase agreements
- LyondellBasell Announces Quarterly Dividend
- LyondellBasell upgraded to Outperform from Sector Perform at RBC Capital
Questions or Comments about the article? Write to editor@tipranks.com