LyondellBasell (LYB) Gets a Buy Rating from Morgan Stanley

In a report released today, Vincent Andrews from Morgan Stanley maintained a Buy rating on LyondellBasell (LYBResearch Report), with a price target of $70.00. The company’s shares closed last Monday at $49.58.

According to TipRanks.com, Andrews is a 2-star analyst with an average return of -2.9% and a 61.1% success rate. Andrews covers the Consumer Goods sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and Archer Daniels Midland.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for LyondellBasell with a $79.40 average price target, representing a 63.0% upside. In a report issued on March 18, Scotiabank also initiated coverage with a Buy rating on the stock with a $78.00 price target.

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The company has a one-year high of $98.92 and a one-year low of $33.71. Currently, LyondellBasell has an average volume of 3.27M.

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LyondellBasell Industries NV operates as an independent chemical company, which engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International, Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. The Olefins and Polyolefins-Americas segment produces and markets olefins which include ethylene and ethylene co-products, and polyolefins. The Olefins and Polyolefins-Europe, Asia, International segment offers olefins including ethylene and ethylene co-products, polyolefins and polypropylene compounds. The Intermediates and Derivatives segment makes propylene oxide and its co-products and derivatives, acetyls, and oxygenated fuels. The Advanced Polymer Solutions segment produces and markets compounding and solutions, such as polypropylene compounds, engineered plastics, masterbatches, colors and powders, engineered composites and advanced polymers, which includes Catalloy and polybutene-1. The Refining segment supply gasoline and diesel fuel. The Technology segment develops chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts. The company was founded in December 2007 and is headquartered in London, the United Kingdom.