BMO Capital analyst John McNulty downgraded LyondellBasell (LYB) to Underperform from Market Perform with a price target of $36, down from $48. The firm sees “significant” fundamental and financial pressures for the company company heading into 2026. LyondellBasell has recently been more vocal about a potential dividend cut to defend its credit profile, the analyst tells investors in a research note. BMO says commodity fundamentals are “worse than feared,” making a meaningful earnings recovery for LyondellBasell in 2026 and 2027 as unlikely, This could continue to pressure the stock, the firm contends.
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