Fly News Breaks for December 20, 2019
Dec 20, 2019 | 06:12 EDT
RBC Capital analyst Arun Viswanathan downgraded LyondellBasell to Sector Perform from Outperform with a price target of $95, down from $102. The analyst sees limited positive catalysts for the shares over the near term with declining propylene prices impacting metathesis conversion margins. Further, the auto industry is "weak," Viswanathan tells investors in a research note. The analyst says his "conservative view" on weak monomer markets and a challenging margin environment in Europe suggest LyondellBasell shares may be fairly valued and could be range-bound for 6-12 months.
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