LyondellBasell Upgrade: Smaller Payout, Cleaner Balance Sheet, Good Risk/Reward into a 45-Day Swing
LyondellBasell (LYB) looks healthier than it did a year ago: cash generation is positive, leverage is manageable, and commodity fundamentals (ethylene/resins) still favor producers. The company is smaller and less generous on payout, but that conservatism improves balance-sheet optionality. We upgrade to a buy for a mid-term swing trade targeting c…