Wells Fargo analyst Michael Sison lowered the firm’s price target on LyondellBasell (LYB) to $85 from $90 and keeps an Overweight rating on the shares. The firm remains bullish on LyondellBasell given an attractive dividend yield and valuation on mid-cycle EBITDA, which should be 1.5-2.0-turns trough. However, Wells reduces its outlook to reflect another challenging year.
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