Key Points U.S. natural gas and NGL oversupply will persist, limiting ethane price upside Normalization of frac spread would erode ethylene margins by 3.6c/lb., at most We rate our U.S. ethane-exposed names DOW...
Key Points We expect global polyethylene capacity growth to tick up in 2025 and utilization rates to inflect up slightly; higher oil prices could provide a pricing tailwind Consensus earnings estimates for...
Key Points Q4'24 EBITDA miss and EPS beat Near-term outlook commentary was mixed We rate LYB shares Neutral; our 12-month target price is USD85 per share Summary LyondellBasell announced Q4’24 results this morning: Recurring EBITDA...
Key Points Slight utilization rate dip in 2026, tightening thereafter through 2029 Forecasting a peak post 2029, quite possibly, could come sooner if demand grows at historical trend levels We rate our ethylene-exposed...
Key Points Q3'24 EBITDA and EPS miss Near-term outlook commentary relatively negative We rate LYB shares Neutral; our 12-month target price is USD105 per share Summary LyondellBasell announced Q3’24 results this morning: Recurring EBITDA of...
Key Points Q2'23 EBITDA miss and EPS beat Near-term outlook commentary relatively positive We rate LYB shares Neutral; our 12-month target price is USD105 per share Summary LyondellBasell announced Q2’24 results this morning: Recurring EBITDA...
Key Points Widening delta between U.S. and Asian prices, relatively tepid demand, bloated Chinese inventories, and slack supply/demand point to near-term polyethylene price and margin headwinds Higher Brent crude oil prices and...