UPDATE: Dahlman Rose Reiterates Buy Rating, Raises PT on LyondellBasell Industries
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
|Oct 2016||Tudor Pickering||Initiates Coverage On||Buy|
|Sep 2016||Deutsche Bank||Maintains||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.