RBC Capital analyst Arun Viswanathan reiterated a Hold rating on LyondellBasell (NYSE: LYB) yesterday and set a price target of $120. The company’s shares closed yesterday at $113.40.
According to TipRanks.com, Viswanathan is a 4-star analyst with an average return of 9.3% and a 62.3% success rate. Viswanathan covers the Consumer Goods sector, focusing on stocks such as Sherwin-Williams Company, Westlake Chemical Corp, and Axalta Coating Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for LyondellBasell with a $127.71 average price target, which is a 12.6% upside from current levels. In a report issued on August 6, BMO Capital also reiterated a Hold rating on the stock with a $112 price target.
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Based on LyondellBasell’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.21 billion and net profit of $1.65 billion. In comparison, last year the company earned revenue of $8.41 billion and had a net profit of $1.13 billion.
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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.
