RBC Capital lowered the firm’s price target on LyondellBasell to $121 from $130 to reflect the current weaker polyethylene conditions but keeps an Outperform rating on the shares after its Q1 earnings beat. The reaffirmation of the company’s $10B normalized EBITDA target by 2027 reflects the strong position LyondellBasell is in to take advantage of a China recovery and improving macroeconomic trends, the analyst tells investors in a research note.
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Published first on TheFly
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