LyondellBasell Stock Rises After KeyBanc Upgrade to Overweight
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 06 2024
0mins
Should l Buy LYB?
Source: SeekingAlpha
LyondellBasell Industries NV's shares increased by 3.01%, reaching a 20-day high, despite the broader market decline with the Nasdaq-100 down 0.45% and the S&P 500 down 0.63%.
The rise in LyondellBasell's stock is attributed to a recent upgrade by KeyBanc from sector weight to overweight, indicating a positive outlook for the company. This upgrade reflects confidence in LyondellBasell's performance amidst a challenging market environment, suggesting that investors are responding favorably to the improved rating.
This upgrade may signal a shift in investor sentiment towards LyondellBasell, potentially attracting more interest in the stock as it demonstrates resilience in a declining market.
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Analyst Views on LYB
Wall Street analysts forecast LYB stock price to fall
15 Analyst Rating
1 Buy
11 Hold
3 Sell
Hold
Current: 77.720
Low
36.00
Averages
47.29
High
57.00
Current: 77.720
Low
36.00
Averages
47.29
High
57.00
About LYB
LyondellBasell Industries N.V. is a global, independent chemical company creating solutions for everyday sustainable living. The Company's segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Advanced Polymer Solutions (APS), and Technology. The O&P-Americas and O&P-EAI segments produces and markets olefins and co-products, polyethylene, and polypropylene. The I&D segment produces and markets propylene oxide (PO) and its derivatives, oxyfuels and related products, and intermediate chemicals, such as styrene monomer (SM), and acetyls. The APS segment produces and markets compounding and solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, colors, and powders. The Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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