Citigroup changes PT on chemical companies
02/10/2025 13:25
** Brokerage Citigroup lowers core profit estimates on chemical companies, owing to lack of seasonal demand growth in Q3 and inventory surplus from higher operating rates on polythene ** Adds that companies might take a conservative and cautious approach on their guidance ** However, expects Celanese CE.N to benefit from modest cost curve support as China curbs coal production, improvement in auto builds, and with potential balance sheet support from divestitures Brokerage changes PT on following companies:
| Company | New PT | Old PT | Upside/downside to stock's last close |
| Celanese CE.N | $53 | $47 | 25.1% |
| Dow DOW.N | $23 | $24 | 0.2% downside |
| Eastman Chemical EMN.N | $70 | $68 | ~13% |
| Huntsman HUN.N | $8.50 | $9 | 6.7% downside |
| LyondellBasell LYB.N | $49 | $53 | 1.2% |
| Westlake WLK.N | $93 | $100 | 21.1% |
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