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Jefferies Maintains a 'Buy' on LyondellBasell Industries (LYB); Solid Start. Raising Estimates & Target

May 3, 2011 8:57 AM EDT
Get Alerts LYB Hot Sheet
Price: $102.28 -0.65%

Rating Summary:
    13 Buy, 17 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies maintains a 'Buy' on LyondellBasell Industries (NYSE: LYB), PT increased from $50 to $56.

Jefferies analyst says, "Given the across-segment improvement in Q1 (increasing Houston capacity, ability to pass-through propylene prices in I&D, improved European performance) we are raising our EBITDA estimates (includes JV dividends) to $5.2bn in 2011E (up 10% YoY), $5.8bn in 2012E (up 11% YoY), and $6.2bn in 2013E (up 11% YoY). We are also raising our target price $56, 6.0x our 2012E EBITDA (excluding JV dividends).ve F11 Outlook Higher."

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 $45.62 yesterday.


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