Deutsche Bank analyst David Begleiter downgraded LyondellBasell to Hold from Buy with an unchanged price target of $105. The downgrade is based on the forecasted slow recovery of global ethylene and polyethylene operating rates in 2025 and 2026 versus projected trough conditions in 2024. Global ethylene derivatives demand remains too low to absorb the 20%-25% increase in global ethylene and polyethylene capacity over the past four years, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on LYB: