LyondellBasell price target raised to $84 from $74 at KeyBanc

KeyBanc analyst Aleksey Yefremov raised the firm’s price target on LyondellBasell to $84 from $74 and keeps an Underweight rating on the shares. LyondellBasell stands to benefit from the stronger U.S. PE contract price recognized in March and cheaper feedstock costs, the analyst tells investors in a research note. However, while earnings are likely to surprise to the upside in the quarter, the firm has not seen many changes in the operating environment and thinks risks are skewed to the downside at the current juncture.