Loading...
Loading...
Deutsche Bank maintains its Buy rating and $40 target price on LyondellBasell Industries
LYB on attractive 3.7x EBITDA valuation.
Deutsche Bank says, “Lyondell's investor meeting exceeded expectations with $3.5-$5B of EBITDA targeted by 2016 (vs LTM EBITDA of $5.5B) from high return operational/financial improvements, quick payback debottlenecks, expansions, restarts, JVs and upside from industry trends (ethylene cycle, US ethane advantage). Most noteworthy, Lyondell has decided not to build a greenfield ethylene cracker in the US but rather take advantage of the US ethane advantage thru lower cost and quicker-to-market brownfield expansions.”
LYB closed at $32.82 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