LyondellBasell Industries NV (LYB) is Reiterated by Deutsche Bank to Hold, Raises Price Target to $ 83

LyondellBasell Industries NV (LYB) was Reiterated by Deutsche Bank to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 83 from a previous price target of $80 . Deutsche Bank advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on LyondellBasell Industries NV. Shares were Downgraded by RBC Capital Mkts on Jun 27, 2016 to ” Sector Perform” and Lowered the Price Target to $ 84 from a previous price target of $100 .Shares were Downgraded by JP Morgan on Jun 23, 2016 to ” Neutral” and Lowered the Price Target to $ 80 from a previous price target of $100 .

On the company’s financial health, LyondellBasell Industries NV reported $2.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $2.51. The company had revenue of $7328.00 million for the quarter, compared to analysts expectations of $7417.28 million. The company’s revenue was down -19.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.81 EPS.

LyondellBasell Industries NV opened for trading at $75.73 and hit $77.25 on the upside on Monday, eventually ending the session at $76.75, with a gain of 0.74% or 0.56 points. The heightened volatility saw the trading volume jump to 3,050,364 shares. Company has a market cap of $31,907 M.

In a different news, on Sep 1, 2016, Jagjeet S. Bindra (director) sold 3,750 shares at $80.00 per share price. According to the SEC, on Apr 26, 2016, Massimo Covezzi (SVP Research & Development) sold 7,551 shares at $89.14 per share price. On Apr 26, 2016, Sergey Vasnetsov (SVP Strategic Planning) sold 3,127 shares at $89.89 per share price, according to the Form-4 filing with the securities and exchange commission.

LyondellBasell Industries N.V. (LyondellBasell) is a global independent chemical company. The Company operates through five segments: Olefins and Polyolefins-Americas (OandP-Americas) Olefins and Polyolefins-Europe Asia International (OandP-EAI) Intermediates and Derivatives (IandD) Refining and Technology. Its OandP-Americas segment produces and markets olefins including ethylene and ethylene co-products and polyolefin. Its OandP-EAI segment produces and markets olefins including ethylene and ethylene co-products polyolefin and specialty products including polybutene-1 and polypropylene compounds. Its IandD segment produces and markets propylene oxide and its co-products and derivatives acetyls including methanol and ethylene oxide. Its Refining segment refines heavy high-sulfur crude oil. Its Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts.

LyondellBasell Industries NV

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