Citi Downgrades Dow and LyondellBasell Due to Weak Chemical Demand
Citigroup downgraded both Dow (DOW) and LyondellBasell (LYB) from Buy to Neutral, citing weak demand in the chemical sector. The firm noted that despite rising oil prices and feedstock costs—which typically benefit chemical producers—current market conditions are limiting their upside potential. Citi also revised its earnings estimates downward for both companies, reflecting concerns over sluggish consumer and industrial demand. This move signals a cautious outlook on near-term performance in the chemicals industry amid ongoing macroeconomic uncertainties.
Topics: Chemical Industry Earnings Estimates Stock Downgrade