Alembic Global analyst Hassan Ahmed reiterated a Buy rating on LyondellBasell (LYB) yesterday and set a price target of $120. The company’s shares closed yesterday at $95.24.
According to TipRanks.com, Ahmed is a 1-star analyst with an average return of -2.2% and a 40.7% success rate. Ahmed covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical Corp, Venator Materials Plc, and Celanese Corp.
The word on The Street in general, suggests a Hold analyst consensus rating for LyondellBasell with a $103.88 average price target, which is a 9.1% upside from current levels. In a report issued on October 31, Barclays also maintained a Buy rating on the stock with a $110 price target.
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Based on LyondellBasell’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.15 billion and net profit of $1.11 billion. In comparison, last year the company earned revenue of $8.52 billion and had a net profit of $1.06 billion.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LYB in relation to earlier this year.
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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.
