LyondellBasell price target lowered to $96 from $100 at Fermium Research

Fermium Research lowered the firm’s price target on LyondellBasell to $96 from $100 and keeps a Hold rating on the shares following quarterly results. Progressing through the third quarter, the firm found ourselves becoming more and more cautious with earnings estimates pretty much across its coverage as volumes continued to be troublesome. Saying that “guidance was fun while it lasted,” Fermium Research notes that it is not expecting a cyclical rebound anytime soon.