UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on LyondellBasell Industries - LyondellBasell Industries (NYSE:LYB)

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In a report published Friday, Jefferies & Company reiterated its Buy rating on LyondellBasell Industries NV (NYSE: LYB), and raised its price target from $61.00 to $63.00.Jefferies noted, “The debate on LyondellBasell, in our view, is shifting to the company's ability to generate FCF in what appears increasingly likely to be a weaker, more jagged ethylene peak: we forecast $15bn in 2013E-2016E. We reiterate our Buy rating.”LyondellBasell Industries NV closed on Thursday at $55.05.

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