Morgan Stanley Reiterates Overweight, $47 PT on LyondellBasell - LyondellBasell Industries (NYSE:LYB)

27% profit every 20 days?

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Morgan Stanley maintains its Overweight rating on LyondellBasell Industries NV (NYSE: LYB) and raises target price to $47 from $45 as low risk, high return CapEx drives greater upside potential.Morgan Stanley says, “A number of low-risk, high return projects could add an incremental $1B to EBITDA by 2015. …We are increasing our Base Case 2013E EBITDA by 7% from $5,239 to $5,585 to account for a number of various growth projects. We are also marking to market our polypropylene margin assumptions in 2012 from $(0.01)/lb to $(0.03)/lb as demand has weakened. This lowers our 2012E EBITDA by 4%.”LYB closed at $33.72 per share on Thursday.

27% profit every 20 days?

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