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UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on LyondellBasell Industries

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

In a report published Friday, Jefferies & Company reiterated its Buy rating on LyondellBasell Industries NV (NYSE: LYB), and raised its price target from $63.00 to $68.00.

Jefferies noted, “With NGL prices falling faster than expected, we are raising 2013E EPS $0.40 to $5.80, based on $0.33/gal ethane (Belvieu), $0.18/gal ethane (Conway) and $0.95/gal propane. Falling feedstock costs should insulate LyondellBasell to some extent from weaker demand prospects in 1H13 (deceleration in the EU, increasing consumer risk aversion in the US, destocking in Latin America). We are raising our price target $5 to $68. Reiterate Buy.”

LyondellBasell Industries NV closed on Thursday at $57.64.

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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