UPDATE: UBS Downgrades LyondellBasell Industries (LYB) to Neutral; Valuation Call

August 27, 2012 7:26 AM EDT
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Price: $90.05 --0%

Rating Summary:
    9 Buy, 13 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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(Updated - August 27, 2012 9:59 AM EDT)

UBS downgraded LyondellBasell Industries (NYSE: LYB) from Buy to Neutral. PT lowered from $51 to $49.

Analyst, Gregg A. Goodnight, said, "We are reducing our rating on LyondellBasell to reflect our assessment that the stock is fairly valued. We believe that the stock may weaken later this year due to increased feedstock costs. In the second quarter, LyondellBasell enjoyed outstanding margins due to a combination of factors that resulted in bargain ethane prices. We expect that ethane prices, which are currently in the mid-30¢/gallon range, will rise to near 50¢/gallon by year end."

FY12 EPS estimate lowered from $5.20 to $5.11 and FY13 from $5.70 to $5.40.

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 $47.90 yesterday.

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