LyondellBasell price target raised to $115 from $98 at Cowen Cowen raised its price target on LyondellBasell to $115 from $98 on expectations of higher margins in its O&P segment and benefits from low cost ethane supply. The firm keeps its Outperform rating on the shares.
U.S. Chemicals sector initiated with an Overweight at RBC Capital RBC Capital started the U.S. Chemicals sector with an Overweight rating citing the growth of shale gas. The firm lists ethylene stocks LyondellBasell (LYB), Westlake Chemical (WLK) and Dow Chemical (DOW) its top picks in the space. RBC views coatings stocks as good ways to play the pending recovery in construction, and has Outperform ratings on Sherwin-Williams (SHW) and PPG Industries (PPG). RBC put its only Underperform rating in the sector on Axiall (AXLL), citing the company's short ethylene position and leverage to single-family housing.