Citigroup raises PT on US chemical companies

Eastman Chemical Co

12/03/2026 13:13

** Citigroup raises price targets on U.S chemical companies, on tighter global supply and rising chemical prices following the Iran conflict and the closure of the Strait of Hormuz

** Expects a more sustained price lift due to persistent logistics bottlenecks, tight feedstock supply, delayed restarts and already low inventories

** "While the duration of the conflict remains uncertain, we believe the disruptions and shutdowns across the upstream LNG plants to downstream crackers in Asia and Europe could provide months of supply-driven pricing uplift," brokerage says

** Brokerage upgrades DOW DOW.N and LyondellBasell LYB.N to “buy” from “neutral,” given the incremental margin expansion across the ethylene and propylene derivative value chain as U.S. feedstock advantage widens

Brokerage raises PT on the following companies:

Company
Old PT
New PT
Upside/downside to the stock last close
Celanese CE.N
$75
$81
55.9%
Dow DOW.N
$28
$40
16.4%
Eastman Chemical EMN.N
$78
$84
24%
LyondellBasell LYB.N
$49
$76
12.8%
Olin OLN.N
$21
$26
9.4%
West Lake WLK.N
$124
$130
21.5%

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))