LyondellBasell (LYB) Estimates, PT Cut at Jefferies; 'Buy' Maintained

Jefferies analyst Laurence Alexander lowered estimates and his price target on LyondellBasell Industries (NYSE: LYB) to $110.00 (from $125.00) but maintained a Buy rating.

Alexander commented, "If oil prices have stepped down to a lower range, and given the risk that demand trends in 1H15 are weaker than we expected, our forecast of a 2H15 tightening cycle appears too aggressive. Accordingly we are trimming 2015E and 2016E to reflect both slightly lower margins and a slower pace of buybacks. We expect persistent outages to support margins and LyondellBasell shares over the next 12 months."'

The firm cut Q4 EPS from $2.24 to $2.12, FY 2014 EPS from $8.50 to $8.40 and FY 2015 EPS from $10.30 to $9.20.

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 $87.19 yesterday.

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