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Key Points U.S. natural gas and NGL oversupply should persist limiting ethane price upside despite higher ethane exports Normalization of frac spread would erode ethylene margins by 2.5c/lb., at most We rate our...
Key Points We’re raising our forecast for BA following yesterday’s release of 3Q25 commercial orders and deliveries data, though we’re lowering our target price on a reduced valuation and higher 2026...
Key Points We believe product prices lagged feedstock costs in Q3'25, we anticipate a weak Q3’25 earnings season We are meaningfully above Q3’25 and 2025 consensus for CC and MEOH We are meaningfully...