Dahlman Rose Raises Price Target on LyondellBasell Industries (LYB), Forecasts 22% International Olefin EBITDA Growth
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Price: $63.76 +2.18%
Rating Summary:
14 Buy, 15 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 15 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dahlman Rose is reiterating its Buy rating on shares of LyondellBasell Industries (NYSE: LYB) and is raising its price target from $45 to $53 as the company continues to benefit from the U.S. ethane advantage and improvements at its refinery operations.
The firm forecasts that U.S. olefin EBITDA will rise 14 percent to $1.9 billion before declining slightly in 2012. It also anticipates that international olefin EBITDA will increase 22 percent to $995 million before moderating to $1.1 billion in 2012.
Dahlman Rose raised its 2011 and 2012 EPS estimates from $3.37 and $3.96 to $4.71 and $5.03. The firm is also increasing its 2011 and 2012 EBITDA estimates from $4,012 million and $4,369 million to $5.2 billion and $5.4 billion.
An analyst at Dahlman Rose comments, "while planned turnarounds at the company's Houston refinery negatively impacted 1Q11, we expect the maintenance to the Fluid Catalytic Cracking Unit to allow the company to capture a greater proportion of the industry benchmark margins."
For more ratings news on LyondellBasell Industries click here and for the rating history of LyondellBasell Industries click here.
Shares of LyondellBasell Industries closed at $38.24 yesterday.
The firm forecasts that U.S. olefin EBITDA will rise 14 percent to $1.9 billion before declining slightly in 2012. It also anticipates that international olefin EBITDA will increase 22 percent to $995 million before moderating to $1.1 billion in 2012.
Dahlman Rose raised its 2011 and 2012 EPS estimates from $3.37 and $3.96 to $4.71 and $5.03. The firm is also increasing its 2011 and 2012 EBITDA estimates from $4,012 million and $4,369 million to $5.2 billion and $5.4 billion.
An analyst at Dahlman Rose comments, "while planned turnarounds at the company's Houston refinery negatively impacted 1Q11, we expect the maintenance to the Fluid Catalytic Cracking Unit to allow the company to capture a greater proportion of the industry benchmark margins."
For more ratings news on LyondellBasell Industries click here and for the rating history of LyondellBasell Industries click here.
Shares of LyondellBasell Industries closed at $38.24 yesterday.
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