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UPDATE: Piper Jaffray Raises PT to $56 on LyondellBasell

Related LYB
UPDATE: Jefferies Downgrades LyondellBasell Industries NV As Oil Volatility Increases
Earnings Scheduled For October 24, 2014

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
Dec 2014JefferiesDowngradesBuyHold
Nov 2014CitigroupMaintainsBuy
Oct 2014BarclaysMaintainsOverweight

View More Analyst Ratings for LYB
View the Latest Analyst Ratings

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