未来两年盈利复苏无望!BMO下调化工巨头利安德巴赛尔(LYB.US)评级至“跑输大盘” 预警股价恐持续承压

Core Viewpoint - BMO Capital Markets downgraded the stock rating of LyondellBasell (LYB.US) from "Market Perform" to "Underperform," citing ongoing commodity and financial pressures that may persist until 2026 [1] Group 1: Stock Rating and Price Target - BMO lowered the target price for LyondellBasell from $48 to $36, reflecting ongoing challenges related to weak commodity demand, margin pressures, and a lack of short-term catalysts for improvement [1][1] Group 2: Company Overview - LyondellBasell, established in 2000, is the world's largest producer of polypropylene and a leader in polyolefin technology, with products used in automotive, electronics, packaging, and medical sectors [1] Group 3: Market Conditions and Financial Strategy - BMO analyst John MacNulty noted that the deterioration in key commodity market fundamentals has exceeded previous expectations, limiting the company's potential for a substantial profit recovery in 2026 or 2027 [1] - Despite management's efforts to improve the balance sheet, these conditions may continue to exert pressure on LyondellBasell's stock price [1] - The management has adopted a more conservative financial stance, which BMO believes supports the potential for dividend cuts aimed at enhancing free cash flow and improving credit metrics [1] - However, these defensive measures may struggle to offset broader structural challenges facing the business [1]