BMO Capital analyst John McNulty raised the firm’s price target on LyondellBasell to $105 from $99 and keeps a Market Perform rating on the shares after its Q1 earnings beat. The company is seeing stability in their various businesses as their assets return from downtime and demand gradually improves with destocking now in the past, the analyst tells investors in a research note. LyondellBasell earnings continue to largely come in line with expectations, and the management is taking the right actions to position the company for recovery, BMO added.
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