BUZZ-Citigroup cuts PT on chemical companies amid slumping polyethylene prices

Reuters
11/19
BUZZ-Citigroup cuts PT on chemical companies amid slumping polyethylene prices

** Citigroup cuts price target on chemical companies LyondellBasell LYB.N and Dow DOW.N as dropping polyethylene prices reflect deeper discounts in the summer

** "We also find the increasing frequency of discounts concerning as it reflects a worsening demand environment and bearish setup in 2026"- brokerage

** Citigroup believes that more closures from the western hemisphere will be required to backstop declining profit

Brokerage changes PT on the following companies:

Company

New PT

Old PT

% upside or downside to stock's last close

LyondellBasell LYB.N

$43

$47

1.7% downside

Dow Inc DOW.N

$23

$25

5.3% upside

(Reporting by Dharna Bafna in Bengaluru)

((dharna.bafna@thomsonreuters.com))

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