Market Overview

UPDATE: Piper Jaffray Raises PT to $56 on LyondellBasell

Share:
Related LYB
Benzinga's Top Initiations
Standpoint Research Initiates LyondellBasell Industries At Buy
Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q1 2015 Update (Seeking Alpha)

Piper Jaffray reiterated its Neutral rating on LyondellBasell (NYSE: LYB) and raised its price target from $48 to $56 following the latest quarterly results.

Piper Jaffray commented, "While we are maintaining our FY13E EPS at $5.50, we are lifting our 4Q12 estimate to $0.96 on lower interest expense. Our valuation multiple expansion (from 4.7x) is largely due to special dividends that investors have come to expect. Management highlighted on the call that the special dividend this quarter ($2.75) is substantially smaller than its predecessor ($4.50), largely due to management's caution about the macro environment."

LyondellBasell closed at $53.75 on Friday.

Latest Ratings for LYB

DateFirmActionFromTo
May 2015Standpoint ResearchInitiates Coverage onBuy
Apr 2015CitigroupMaintainsNeutral
Apr 2015BarclaysMaintainsOverweight

View More Analyst Ratings for LYB
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (LYB)

Around the Web, We're Loving...