LSB Industries (LXU) PT Lowered to $10 at RBC Capital

RBC Capital analyst Andrew Wong lowered the price target on LSB Industries (NYSE: LXU) to $10.00 (from $12.00) while maintaining a Outperform rating.

The analyst commented, "We expect earnings stabilize into 2024 as nitrogen markets remain constructive for North American producers, with lower prices largely offset by lower natural gas costs. We see 2024 as a transitional year, with ongoing operational improvements set to benefit future years (better operating rates, more upgrade sales), while capital allocation is focused on near-term debt/buybacks and long-term on clean ammonia opportunities."

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