Dahlman Rose Raises Price Target on LyondellBasell Industries (LYB), Stronger Refinery Operations
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Price: $99.68 -1.09%
Rating Summary:
13 Buy, 17 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
Rating Summary:
13 Buy, 17 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Dahlman Rose is reiterating their Buy rating on shares of LyondellBasell Industries (NYSE: LYB) and is raising their price target to $45 from $38 to account for improving refinery operations that is driving the company's growth.
As a result of the stronger refinery operations, they are raising their 2011 EBITDA and EPS estimates to $4 billion and $3.37 from $3.7 billion and $2.96. They are introducing their 2012 estimates of $4.4 billion for EBITDA and $3.96 in EPS. This represents a ~9% growth in 2011 and ~18% in 2012.
The firm reports that, "we expect the refining operations to show strong results heading into 2012. We are modeling 2011 refinery EBITDA to grow ~80% to slightly over $800 million and another ~30% in 2012 to over $1 billion of EBITDA. We believe LyondellBasell will capture a greater portion of the average industry benchmark margins as it refines heavier crudes from countries such as Venezuela."
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 $38.40 yesterday.
As a result of the stronger refinery operations, they are raising their 2011 EBITDA and EPS estimates to $4 billion and $3.37 from $3.7 billion and $2.96. They are introducing their 2012 estimates of $4.4 billion for EBITDA and $3.96 in EPS. This represents a ~9% growth in 2011 and ~18% in 2012.
The firm reports that, "we expect the refining operations to show strong results heading into 2012. We are modeling 2011 refinery EBITDA to grow ~80% to slightly over $800 million and another ~30% in 2012 to over $1 billion of EBITDA. We believe LyondellBasell will capture a greater portion of the average industry benchmark margins as it refines heavier crudes from countries such as Venezuela."
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 $38.40 yesterday.
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