Wells Fargo raises LyondellBasell target price to $87
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 02 2024
0mins
Should l Buy LYB?
Source: Benzinga
LyondellBasell Industries NV's stock has increased by 3.07% and reached a 52-week high.
Wells Fargo has raised its target price for LyondellBasell's stock from $70 to $87, reflecting a positive outlook for the company amid strong market conditions. Additionally, UBS also increased its target price from $73 to $79, indicating growing confidence in LyondellBasell's performance.
These target price increases from major financial institutions suggest a bullish sentiment towards LyondellBasell, likely driven by favorable market dynamics and the company's strong positioning in the chemical and plastics industry.
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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: 76.710
Low
36.00
Averages
47.29
High
57.00
Current: 76.710
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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- Global Supply Shortage: Al-Sabah emphasized that the 3 million barrels per day of emergency stocks from the International Energy Agency will do little to compensate for the production cuts in Iraq, Saudi Arabia, and the UAE, highlighting the far-reaching impact of the Strait's closure on the global supply chain.
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