LyondellBasell Industries (NYSE:LYB) is one of the best chemical stocks to buy, according to billionaires. On July 3, RBC Capital analyst Arun Viswanathan increased the stock’s price target to $64 from $61.
A close-up of a factory worker handling advanced plastics materials with specialized machinery.
The price hikes come as the research firm maintains a ’Sector Perform’ rating on the stock. The bullish rating comes as the company continues to make significant progress in strengthening near-term cash generation. The company also boasts financial and operational discipline that allows it to navigate macroeconomic challenges effectively.
LyondellBasell Industries is a global chemical company that produces and markets a wide range of products, including plastics, chemicals, and fuels. It is a leading producer of polypropylene and polyethylene resins, and its products are used in various industries, including packaging, construction, automotive, and healthcare.
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This article is originally published at Insider Monkey.
