Jefferies Raises Price Target on LyondellBasell Industries (LYB) to $88; Reiterates Hold
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies reiterated a Hold rating on LyondellBasell Industries (NYSE: LYB), and raised the price target to $88.00 (from $84.00). Jefferies expects capex to step up to $2.0-$2.5bn annually as LyondellBasell sequences larger growth projects.
Analyst Laurence Alexander commented, "We are raising 2017E $0.95 to $9.65 and 2018E $0.50 to $8.95. A 8x-10x nearterm range implies $72-$90 outside of a recession. Shares could gravitate to the higher end of range to the extent organic growth prospects are fleshed out and concerns over ethane supplies in 2H17-2018 are assuaged."
Shares of LyondellBasell Industries closed at $78.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates
- KLR Group Cuts Price Target on Southwestern Energy (SWN) to $14
- Susquehanna Cuts Price Target on KLA-Tencor (KLAC) Following Strong 1Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!