Avient downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc analyst Aleksey Yefremov downgraded Avient (AVNT) to Sector Weight from Overweight without a price target The firm adjusted ratings in the chemicals space as part of a Iran war “commodities playbook.” KeyBanc sees the war as a positive catalyst for U.S. petrochemicals. It sees “upside risks” to commodity margins over the next few quarters as rising crude oil prices lift the global cost curve. It cites rising raw material costs for the downgrade of Avient.