Mizuho analyst Christopher Parkinson raised the firm’s price target on LyondellBasell to $91 from $89 and keeps a Neutral rating on the shares. The analyst attributes the post-earnings share rally short covering and a "high degree of optimism" regarding China’s re-opening and favorable spreads. The firm questions whether potential upside warrants a bullish stance as global demand is "choppy."
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on LYB:
- LyondellBasell assumed with Outperform from Underperform at Credit Suisse
- LyondellBasell Reports 2022 Earnings
- LyondellBasell expects challenging market conditions to persist through 1H 2023
- LyondellBasell reports Q4 adjusted EPS $1.29, consensus $1.22
- LyondellBasell signs renewable electricity PPAs in Europe, U.S.
