LyondellBasell Industries (LYB) PT Lowered to $78 at Citi

Citi analyst Pat Cunningham lowered the price target on LyondellBasell Industries (NYSE: LYB) to $78.00 (from $81.00) while maintaining a Neutral rating.

The analyst comments "We lower 4Q24 EBITDA by ~$12mm to $763mm compared to our prior estimate. This was driven by lower estimate in I&D and slightly lower estimate in O&P Americas. Our 4Q24 EPS declines by 3c to $0.74 as a result. For O&P Americas, we maintain our FY25 price estimate and take down our cash margin estimate by 1c. We maintain our O&P EAI price and cash margin estimate. We lower our I&D 4Q24 EBITDA by ~$10mm and make similar marginal adjustments lower for 2025 to reflect updated PG, styrene and MTBE price estimates and PO & Derivatives capacity assumption. We maintain our view that the eventual return of consumer durables demand will be positive for LYB’s PO and PP businesses."

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