Loading...
Loading...
Morgan Stanley maintains its Overweight rating on LyondellBasell Industries NV
LYB and raises target price to $47 from $45 as low risk, high return CapEx drives greater upside potential.
Morgan Stanley says, “A number of low-risk, high return projects could add an incremental $1B to EBITDA by 2015. …We are increasing our Base Case 2013E EBITDA by 7% from $5,239 to $5,585 to account for a number of various growth projects. We are also marking to market our polypropylene margin assumptions in 2012 from $(0.01)/lb to $(0.03)/lb as demand has weakened. This lowers our 2012E EBITDA by 4%.”
LYB closed at $33.72 per share on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in