Jefferies cuts LSB Industries to 'hold' citing pricing, demand concerns

LSB Industries

13/04/2023 09:12

** Jefferies downgrades chemicals producer LSB Industries
Inc  LXU.N  to "hold" from "buy"
    ** Says headwinds are likely to continue for several
quarters and that the pricing environment is weakening
    ** Adds the wet weather is likely to limit ammonia demand in
the near-term
    ** "Given the shortening of the planting season, growers
will likely skimp on pre-planting ammonia applications this
spring" - Jefferies
    ** Broker also cuts price target to $10 from $20
    ** Five of seven brokerages rate the stock "buy" or higher
and two "hold"; median PT is $16 - Refinitiv
    ** LXU down around 25% so far this year

 (Reporting by Subhadeep Chakravarty in Bengaluru)
 ((subhadeep.chakravarty@thomsonreuters.com))