LyondellBasell (LYB) Catches Eye: Stock Jumps 7.1%

LyondellBasell Industries N.V. LYB was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $97.26 to $101.23 in the past one-month time frame.

The upmove was likely driven by reports that the company had approached the Brazilian petrochemical company, Braskem S.A., for a takeover.

The company has seen three positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for LyondellBasell. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

LyondellBasell currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Investors interested in the Chemical – Diversified industry may consider Koppers Holdings Inc. KOP, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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