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Fly News Breaks for November 1, 2018
LYB
Nov 1, 2018 | 08:11 EDT
BMO Capital analyst John McNulty lowered his price target on LyondellBasell to $101 and kept his Market Perform rating, saying that while the company's Technology and Intermediates/Derivatives segments helped its Q3 earnings beat, he expects its ethylene value/product chain to see margin pressure in 2019. McNulty adds that the "plethora of new ethylene capacity coming online, along with a likely moderating of the US ethane advantage and rising feedstock costs in Europe", should cap LyondellBasell's "past stellar earnings growth".
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