Citi analyst Patrick Cunningham lowered the firm’s price target on LyondellBasell to $96 from $98 and keeps a Neutral rating on the shares. The analyst updated the company’s model post the fiscal 2023 results. LyondellBasell was confident on a second half of 2024 recovery, with demand supported by moderating rates and reduced inflation, the analyst tells investors in a research note. The firm says the company has made attractive portfolio moves amid a slow macro recovery.
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