Jefferies Raises Price Target on LyondellBasell Industries (LYB) to $88; Reiterates Hold
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial 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 Cuts Price Target on Workday (WDAY) to $71 Following 3Q
- Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat
- Jefferies Raises Price Target on Pure Storage, Inc. (PSTG) Following 3Q; Reiterates Hold
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!