LyondellBasell, the Basic Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Duffy Fischer from Goldman Sachs maintained a Sell rating on the stock and has a $51.00 price target.
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Duffy Fischer’s rating is based on several factors impacting LyondellBasell’s financial outlook. The company is facing challenges due to a weak macroeconomic environment, which is expected to negatively affect its financial performance. This unfavorable economic backdrop is likely to result in LyondellBasell’s fourth-quarter EBITDA falling short of market expectations.
Additionally, operational issues at some of LyondellBasell’s plants are contributing to the company’s difficulties. These operational challenges further compound the negative impact on the company’s financial results, reinforcing the decision to issue a Sell rating. Investors are advised to consider these factors when evaluating their investment decisions regarding LyondellBasell’s stock.