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Fly News Breaks for July 10, 2018
LYB
Jul 10, 2018 | 07:29 EDT
Citi analyst P.J. Juvekar resumed coverage of LyondellBasell with a Buy rating and $122 price target. The rating is unchanged and the price target lowered from $125 relative to Citi's prior coverage. Fears of new capacity are already factored in and while trade war is a risk, most polyethylene grades sold by LyondellBasell have not been targeted by Chinese tariffs yet, Juvekar tells investors in a research note. The analyst believes integrated polyethylene margins should recover in 2019 as global supply/demand balances improve.
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