BUZZ-Citigroup cuts PT on chemical companies amid slumping polyethylene prices** Citigroup cuts price target on chemical companies LyondellBasell LYB.N and Dow DOW.N as dropping polyethylene prices reflect deeper discounts in the summer
** "We also find the increasing frequency of discounts concerning as it reflects a worsening demand environment and bearish setup in 2026"- brokerage
** Citigroup believes that more closures from the western hemisphere will be required to backstop declining profit
Brokerage changes PT on the following companies:
Company | New PT | Old PT | % upside or downside to stock's last close |
LyondellBasell LYB.N | $43 | $47 | 1.7% downside |
Dow Inc DOW.N | $23 | $25 | 5.3% upside |
(Reporting by Dharna Bafna in Bengaluru)
((dharna.bafna@thomsonreuters.com))
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