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UPDATE: RBC Capital Markets Upgrades LyondellBasell on Billions and Billions of Reasons

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In a report published Thursday, RBC Capital Markets analyst Chris Nocella upgraded the rating on LyondellBasell Industries NV (NYSE: LYB) from Outperform to Top Pick, and raised the price target from $90.00 to $110.00.

In the report, RBC Capital Markets noted, “We are adding LYB to the RBC Top Picks List and raising our price target to $110 /share, with an upside potential of $140/ share. LYB's strong organic and market driven growth potential ($10/share in 2015) and under-levered balance sheet lead to $12-$14 B of potential cash for capital returns (mainly share repurchases) over the next 3 years, or 1/3 of market cap.”

LyondellBasell Industries NV closed on Wednesday at $75.55.

Latest Ratings for LYB

DateFirmActionFromTo
Jun 2017HSBCInitiates Coverage OnBuy
May 2017Bank of AmericaDowngradesUnderperform
Feb 2017Evercore ISI GroupInitiates Coverage OnBuy

View More Analyst Ratings for LYB
View the Latest Analyst Ratings

Posted-In: Chris Nocella RBC Capital MarketsAnalyst Color Upgrades Analyst Ratings

 

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