LyondellBasell price target lowered to $82 from $87 at BMO Capital

BMO Capital lowered the firm’s price target on LyondellBasell (LYB) to $82 from $87 and keeps a Market Perform rating on the shares. The company reported a Q4 miss, driven by weaker Olefins & Polyolefins segment on lower margins and elevated costs, and while Intermediates & Derivatives segment was a partial positive benefit, the overall quarter disappointed, the analyst tells investors in a research note. BMO adds that it sees the path for earnings stability and recovery as “uncertain”.