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Positive Report for LyondellBasell (LYB) from Citi

Tipranks - Fri Mar 13, 5:06AM CDT

Citi analyst Patrick Cunningham upgraded LyondellBasell to a Buy today and set a price target of $76.00.

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Cunningham covers the Basic Materials sector, focusing on stocks such as Celanese, Eastman Chemical, and International Flavors & Fragrances. According to TipRanks, Cunningham has an average return of 3.8% and a 53.41% success rate on recommended stocks.

In addition to Citi, LyondellBasell also received a Buy from Vertical Research’s Kevin McCarthy in a report issued on March 9. However, today, TipRanks – OpenAI reiterated a Hold rating on LyondellBasell (NYSE: LYB).

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 80 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. Earlier this 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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