LSB Industries price target lowered to $10 from $12 at RBC Capital

RBC Capital lowered the firm’s price target on LSB Industries to $10 from $12 after its Q4 earnings miss but keeps an Outperform rating on the shares. RBC believes that earnings will stabilize into 2024 as nitrogen markets remain constructive for North American producers, with lower prices largely offset by lower natural gas costs. The firm also sees 2024 as a transitional year, with ongoing operational improvements set to benefit future year, the analyst tells investors in a research note.