UPDATE: Deutsche Bank Raises PT to $52 on LyondellBasel

Deutsche Bank raises its price target by $12 to $52 on LyondellBasel

as the company's ethane advantage in the long term remains intact. Deutsche bank reiterates its Buy rating on shares due to attractive valuation with regards to EBITDA. Deutsche Bank says, "Lyondell's 2012 is off to a strong start with signs of demand improvement in the US, the Maya 2-1-1 spread rebounding to $20/bbl (vs $13 in Q4) and an outlook of low ethane prices in 1H due to a heavy turnaround season for US ethylene producers. While we would not be surprised to see ethane prices move higher as turnaround season ends (June), we expect prices to come back down again in '13 as ethane becomes oversupplied due to new fractionation and pipeline capacity." LYB closed at $44.75 a share on Friday.