JPMorgan analyst Jeffrey Zekauskas downgraded LyondellBasell (LYB) to Neutral from Overweight with a price target of $60, down from $80. The firm says petrochemical demand is “faltering,” raw material costs are rising, trade risk is increasing, and global economic strength is weakening. will be difficult for Dow and Lyondell to lift prices to widen out margins from current levels in the context of global economic deceleration and lower oil prices, the analyst tells investors in a research note.
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