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UPDATE: Dahlman Rose Reiterates Buy Rating, Raises PT on LyondellBasell Industries

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8 Notable Stocks Trading Ex-Dividend Friday, November 25
Earnings Scheduled For November 1, 2016

In a report published Wednesday, Dahlman Rose & Co. reiterated its Buy rating on LyondellBasell Industries (NYSE: LYB), and raised its price target from $53.00 to $68.00.

Dahlman Rose noted, “We are reiterating our Buy rating and raising our estimates and price target to $68/share from $53/share. We see a strong year fundamentally for the US chemical sector as well as an improving operational story for LYB. In addition, the company will have increased optionality in its ability to return shareholder cash when share repurchase becomes a viable option this year. We also see that option as a convenient way to reduce the private equity overhang which, at least to some degree, impairs share value.”

LyondellBasell Industries closed on Tuesday at $59.74.

Latest Ratings for LYB

DateFirmActionFromTo
Oct 2016Tudor PickeringInitiates Coverage OnBuy
Sep 2016JefferiesMaintainsHold
Sep 2016Deutsche BankMaintainsHold

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Posted-In: Dahlman Rose & Co.Analyst Color Price Target Analyst Ratings

 

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