RBC Capital raised the firm’s price target on LyondellBasell (LYB) to $94 from $91 and keeps an Outperform rating on the shares. The company saw a positive reaction to its solid Q1 print and a guide to significant Q2 uplift, the analyst tells investors in a research note. LyondellBasell is yet to see signs of demand destruction in the US/Europe, and given depressed durables consumption, the company thinks it is unlikely, especially given global polyethylene pricing remains well below the 2021 peak, the firm added.
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