Wells Fargo analyst Michael Sison raised the firm’s price target on LyondellBasell to $109 from $97 and keeps an Overweight rating on the shares. The firm believes operating rates should improve in Q1 2023 versus Q4 2022 trough levels, with improved margins due to lower natural gas prices. Several of its chemical chains have good leverage to a China reopening, Wells adds.
Published first on TheFly
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