Wall Street Q3 earnings estimates too high for ethylene-exposed Dow, LyondellBasell - analyst

摘要

NEW YORK (ICIS)--Wall Street consensus earnings estimates for the third quarter are too high for certain ethylene-exposed chemical companies, an analyst said on Monday. “One of our main tactical calls for H2 2020 remains reversal of the recent strength in ethylene/PE (polyethylene) chain. We note that ethylene prices in Asia dropped 9% last week, the first decline in 10 weeks,” said Aleksey Yefremov, analyst at KeyBanc Capital Markets, in a research note.