LyondellBasell price target lowered to $95 from $105 at Wells Fargo

Wells Fargo lowered the firm’s price target on LyondellBasell (LYB) to $95 from $105 and keeps an Overweight rating on the shares. Despite another cut to our outlook, the firm remains bullish on stock underperformance, where Wells believes valuation is attractive and still sees significant upside to EBITDA in a recovery to mid cycle dynamics.