Citi Sticks to Its Buy Rating for LyondellBasell (LYB)
Citi analyst Patrick Cunningham maintained a Buy rating on LyondellBasell yesterday and set a price target of $76.00. The company’s shares closed yesterday at $80.56.
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According to TipRanks, Cunningham is a 4-star analyst with an average return of 4.2% and a 50.28% success rate. Cunningham covers the Basic Materials sector, focusing on stocks such as LyondellBasell, PPG Industries, and Celanese.
LyondellBasell has an analyst consensus of Moderate Buy, with a price target consensus of $70.53.
Based on LyondellBasell’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.09 billion and a GAAP net loss of $140 million. In comparison, last year the company earned a revenue of $9.5 billion and had a GAAP net loss of $598 million
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LYB in relation to earlier this year. Last month, AI INVESTMENTS HOLDINGS LLC, a Major Shareholder at LYB sold 385,390.00 shares for a total of $26,254,959.78.
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