LyondellBasell upgraded to Overweight from Neutral at Atlantic Equities

Atlantic Equities analyst Colin Isaac upgraded LyondellBasell to Overweight from Neutral with a $110 price target. The company’s Q4 is likely to see an earnings trough, and despite economic uncertainty, market conditions for LyondellBasell are improving as China reopens and the U.S. feedstock advantage is boosted by lower natural gas prices, the analyst tells investors in a research note. The firm thinks fiscal 2023 estimates are now too low for the company and that the stock’s risk profile is "skewed to the upside."