Jefferies Boosts Numbers On LyondellBasell (LYB) Despite Q4 Miss

Jefferies raised numbers on LyondellBasell Industries (NYSE: LYB) despite the Q4 miss.

They firm raised its price target from $42 to $53. They raised Q1 EPS from $0.81 to $0.99 and FY12 from $3.99 to $4.30. FY13 was trimmed from $5.85 to $5.75.

The firm comments, "Q4's miss provided a timely reminder of the lumpiness in LyondellBasell's results, particularly after over-earning in Q3. With industry margins recovering in Q1, we are raising 2012E $0.40 to $4.30. Shifting to mid-cycle valuation methodologies supports a 12-month valuation target of $53 (18% potential upside)."

For an analyst ratings summary and ratings history on LyondellBasell Industries click here. For more ratings news on LyondellBasell Industries click here.

Shares of LyondellBasell Industries closed at $44.75 yesterday, with a 52 week range of $22.90-$46.28.

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