LyondellBasell Industries (LYB) PT Raised to $75 at JPMorgan

JPMorgan analyst Jeffrey Zekaukas raised the price target on LyondellBasell Industries (NYSE: LYB) to $75.00 (from $50.00) while maintaining a Neutral rating.

The analyst commented, "Lyondell indicated that domestic polyethylene prices settled higher for April by 30 cents per pound, which, on an annualized basis would add $2.25b to Lyondell’s EBITDA (Lyondell sells about 7.5b lbs of domestic PE). The profitability of European operations is benefiting from a lack of Middle East competition. We expect European operations to jump from an EBITDA quarterly loss to positive quarterly EBITDA in excess of $200m in 2Q:26."

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