Mizuho lowered the firm’s price target on LyondellBasell (LYB) to $54 from $62 and keeps a Neutral rating on the shares. The firm adjusted price targets in the chemicals and packaging group as part of a Q3 earnings preview. Futures indicate a lower U.S. natural gas-based advantage, which could weigh on petrochemical profits, the analyst tells investors in a research note. Mizuho’s top picks remain in the specialty and defensive categories. Its top picks are Sealed Air (SEE), IFF (IFF) and Ecolab (ECL).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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>>
Read More on LYB:
- LyondellBasell price target lowered to $49 from $53 at Citi
- Warren Buffett May Score Again as Berkshire Weighs $10B Deal for Occidental Chemical
- LyondellBasell Amends Credit Agreement with Citibank
- ExxonMobil May Sell European Chemical Plants amid Sector Slump. Should Investors Worry?
- Trump Trade: Treasury’s Bessent to begin Fed Chair interview this week