Crude Oil's 20% Jump Positively Shifts Base Chemicals, Analyst Upgrades DOW, WLK, And LYB
Portfolio Pulse from Lekha Gupta
KeyBanc Capital Markets analyst Aleksey Yefremov has upgraded Dow Inc. (DOW), Westlake Corp (WLK), and LyondellBasell Industries NV (LYB) to Sector Weight from Underweight, citing a 20% rise in crude oil prices over the last three months. The analyst sees lower downside risk for the stocks as higher naphtha costs force competitors in Asia and Europe to raise prices. However, the demand outlook for chemicals and earnings recovery is seen as gloomy, heading into a seasonally soft Q4.

October 03, 2023 | 7:56 pm
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POSITIVE IMPACT
Dow Inc. has been upgraded to Sector Weight from Underweight by KeyBanc Capital Markets analyst Aleksey Yefremov. The analyst sees lower downside risk for the stock due to rising crude oil prices.
The upgrade by KeyBanc Capital Markets analyst is likely to have a positive impact on DOW's stock in the short term. The analyst's view of lower downside risk due to rising crude oil prices could boost investor confidence in the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
LyondellBasell Industries NV has been upgraded to Sector Weight from Underweight by KeyBanc Capital Markets analyst Aleksey Yefremov. The analyst sees lower downside risk for the stock due to rising crude oil prices.
The upgrade by KeyBanc Capital Markets analyst is likely to have a positive impact on LYB's stock in the short term. The analyst's view of lower downside risk due to rising crude oil prices could boost investor confidence in the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Westlake Corp has been upgraded to Sector Weight from Underweight by KeyBanc Capital Markets analyst Aleksey Yefremov. The analyst sees lower downside risk for the stock due to rising crude oil prices.
The upgrade by KeyBanc Capital Markets analyst is likely to have a positive impact on WLK's stock in the short term. The analyst's view of lower downside risk due to rising crude oil prices could boost investor confidence in the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100