Alembic Global Believes LyondellBasell (LYB) Won’t Stop Here


In a report issued on May 14, Hassan Ahmed from Alembic Global maintained a Buy rating on LyondellBasell (NYSE: LYB), with a price target of $140. The company’s shares opened today at $115.10, close to its 52-week high of $121.95.

According to TipRanks.com, Ahmed is a 5-star analyst with an average return of 14.3% and a 71.0% success rate. Ahmed covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical Corp, Venator Materials Plc, and Celanese Corp.

Currently, the analyst consensus on LyondellBasell is Moderate Buy and the average price target is $121.67, representing a 5.7% upside.

In a report released yesterday, Jefferies also upgraded the stock to Buy with a $137 price target.

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Based on LyondellBasell’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.77 billion and net profit of $1.23 billion. In comparison, last year the company earned revenue of $8.43 billion and had a net profit of $796 million.

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LyondellBasell Industries NV is an independent chemical company, which engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International, Intermediates; and Derivatives; Refining; and Technology.

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