LyondellBasell price target raised to $119 from $117 at Piper Sandler

Piper Sandler analyst Charles Neivert raised the firm’s price target on LyondellBasell to $119 from $117 and keeps an Overweight rating on the shares. The firm notes the company reported Q1 earnings that generally exceeded consensus estimates. More importantly though, it pointed to modestly improving market environments with price hikes and increasing demand driving the expectations for higher earnings in Q2.