Wells Fargo Keeps Their Hold Rating on LyondellBasell (LYB)


In a report released yesterday, Michael Sison from Wells Fargo maintained a Hold rating on LyondellBasell (LYB). The company’s shares closed last Friday at $68.45.

According to TipRanks.com, Sison is a 5-star analyst with an average return of 13.7% and a 65.2% success rate. Sison covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, RPM International, and PPG Industries.

Currently, the analyst consensus on LyondellBasell is a Moderate Buy with an average price target of $79.80, implying a 13.3% upside from current levels. In a report issued on October 19, Alembic Global also maintained a Hold rating on the stock with a $85.00 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 $5.55 billion and net profit of $314 million. In comparison, last year the company earned revenue of $9.05 billion and had a net profit of $1 billion.

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LyondellBasell Industries NV operates as 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; Advanced Polymer Solutions; Refining; and Technology. The Olefins and Polyolefins-Americas segment produces and markets olefins which include ethylene and ethylene co-products, and polyolefins. The Olefins and Polyolefins-Europe, Asia, International segment offers olefins including ethylene and ethylene co-products, polyolefins and polypropylene compounds. The Intermediates and Derivatives segment makes propylene oxide and its co-products and derivatives, acetyls, and oxygenated fuels. The Advanced Polymer Solutions segment produces and markets compounding and solutions, such as polypropylene compounds, engineered plastics, masterbatches, colors and powders, engineered composites and advanced polymers, which includes Catalloy and polybutene-1. The Refining segment supply gasoline and diesel fuel. The Technology segment develops chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts. The company was founded in December 2007 and is headquartered in London, the United Kingdom.

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