Citigroup Downgrades LyondellBasell Industries to Neutral, Lowers Price Target to $98
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Patrick Cunningham downgraded LyondellBasell Industries (NYSE:LYB) from Buy to Neutral and reduced the price target from $105 to $98.

December 13, 2023 | 12:17 pm
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Citigroup downgraded LyondellBasell Industries from Buy to Neutral and lowered the price target from $105 to $98, potentially impacting investor sentiment and the stock's market performance.
Downgrades by major analysts like Citigroup can lead to a negative short-term reaction in the stock market as they may reflect a less optimistic outlook on the company's future performance. The reduction in price target further suggests a lower expected valuation for LYB, which could influence investor sentiment and result in a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100