UPDATE: Jefferies Raises PT on LyondellBasell Industries on Multiple Debates Ahead

In a report published Tuesday, Jefferies analyst Laurence Alexander reiterated a Buy rating on LyondellBasell Industries LYB, and raised the price target from $75.00 to $80.00.

In the report, Jefferies noted, “With the outlook for the ethylene cycle less inspiring in a slow-growth environment (Chart 1), we expect LyondellBasell's share trajectory to be driven by five other debates. Overall, we expect these to settle in LyondellBasell's favor.”

LyondellBasell Industries closed on Monday at $70.89.