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

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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
Feb 2016Deutsche BankMaintainsHold
Feb 2016RBC CapitalDowngradesTop PickOutperform
Jan 2016Deutsche BankMaintainsHold

View More Analyst Ratings for LYB
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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