RBC Capital analyst Arun Viswanathan raised the firm’s price target on LyondellBasell to $99 from $94 but keeps a Sector Perform rating on the shares after its Q4 earnings beat. The analyst states that the global macroeconomic environment is still uncertain, but demand seems stable and the company sees various potential tailwinds as it heads into 2023. RBC Capital adds however that the stock already incorporates some of the positive factors – including the lower feedstock/energy costs, benefits from its Value Enhancement program, normalizing supply chains, and the return of Chinese demand – preferring to wait for a pullback to get more constructive.
Published first on TheFly
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