Goldman Sachs Downgrades LyondellBasell Industries (LYB) to Neutral
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Price: $67.53 -0.84%
Rating Summary:
14 Buy, 15 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 15 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded LyondellBasell Industries (NYSE: LYB) from Buy to Neutral with a price target of $38.
The firm said based on lower demand assumptions reducing ethylene operating rate, price, and margin estimates.
"Ethylene stocks' relative performance is driven by forward margin expectations, in our opinion, and we now expect relatively flat ethylene chain margins," Goldman's analyst said.
For more ratings news on LyondellBasell Industries click here and for the rating history of LyondellBasell Industries click here.
Shares of LyondellBasell Industries closed at $34.02 yesterday.
The firm said based on lower demand assumptions reducing ethylene operating rate, price, and margin estimates.
"Ethylene stocks' relative performance is driven by forward margin expectations, in our opinion, and we now expect relatively flat ethylene chain margins," Goldman's analyst said.
For more ratings news on LyondellBasell Industries click here and for the rating history of LyondellBasell Industries click here.
Shares of LyondellBasell Industries closed at $34.02 yesterday.
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