LyondellBasell Well Positioned For Headwinds In 2011

Jefferies & Co. has published a research report on LyondellBasell Industries LYB after the company largely exceeded 3Q expectations from Jefferies. In the report, Jefferies writes "With 3-4 years to the next peak in the ethylene cycle, LyondellBasell should trade mostly on short-cycle growth indicators and unplanned outages. While the shares may be range-bound near-term on margin concerns, there should be upside in 2011." Jefferies maintains its Buy rating and has raised the price target from $31 to $32. LyondellBasell closed Friday at $26.86.