Chemical stocks are in focus today, after BofA Global Research downgraded both LyondellBasell Industries NV (NYSE:LYB) and Dow Inc (NYSE:DOW) to "underperform" from "neutral." The analyst in coverage acknowledged the strong performance for the sector in 2026, but cited "unsustainable" tailwinds from the war with Iran.
LYB is down 2% to trade at $77.98, after the analyst also trimmed its price target to $55 from $68. The shares just hit a March 31, 52-week high of $83.90, and are 79.4% higher year to date despite today's breather.
Are options traders ahead of the analysts' curve? The stock's 10-day put/call volume ratio of 1.29 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits in the 87th percentile of its annual range.
Dow stock is down 2.6% to trade at $40.34, though BofA hiked its price target to $35 from $31 earlier. The shares are 71% higher in 2026, and have turned in only two weekly losses this year.
Keep an eye on the stock's 14-Day Relative Strength Index (RSI), which closed at 71 and is working off its "overbought" condition today.
