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Key Points Q1 stronger than feared, but already priced in: Solid volumes and PE margin expansion offset ethylene weakness; consensus broadly captures y-o-y earnings decline Earnings upside underappreciated: Product price hikes imply...
Key Points We’re updating our outlook for BA after yesterday’s release of 1Q26 orders and deliveries data. We’re making minimal changes to our forecast but our target price declines USD13 to...
Key Points 8–9 month supply chain normalization keeps markets tight and supports higher-for-longer pricing Elevated oil, North American cost advantages, and accelerating capacity rationalization drive meaningful upside to polyethylene pricing and earnings,...
Key Points Improving chemical pricing being undermined by Middle East outages and logistics constraints, limiting volume realization for the MENA group Expectations appear too high, with likely misses near term and estimate...
Key Points We're updating our forecast and target price for CW for the first time post 4Q25 earnings, and we're reiterating our Overweight rating on the shares. Our target price rises USD181...