Citi lowered the firm’s price target on LyondellBasell (LYB) to $66 from $75 and keeps a Neutral rating on the shares. The firm also opened a “30-day negative catalyst watch” on the shares. Citi takes a short-term downside view on LyondellBasell into the Q1 earnings, citing “muted” U.S. integrated polyethylene margins due to elevated feedstock costs. The analyst also thinks the tariff overhang is most pronounced for U.S. polyethylene producers who will likely need to redirect trade flows as a result.
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