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Fly News Breaks for February 4, 2020
Feb 4, 2020 | 09:28 EDT
Wells Fargo analyst Michael Sison lowered his price target for LyondellBasell to $105 from $110 given a slower than anticipated benefit from IMO 2020 and still challenging market conditions in a number of markets. The analyst reiterates an Overweight rating on the shares as he continues to expect positive EBITDA growth and low double-digit EPS growth in 2020 despite the weak macro. He also continues to prefer LyondellBasell's diversified asset base with a feedstock advantaged core business among commodity exposed producers, which allows the company to continue to return significant cash to shareholders.
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