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.
LyondellBasell names Bhavesh Patel as new CEO LyondellBasell announced that the supervisory board has appointed Bhavesh V. "Bob" Patel as CEO, effective January 12, 2015. Patel has served as executive vice president, Olefins and Polyolefins – Europe, Asia & International and Technology since October 2013. Patel succeeds James Gallogly, who previously announced his plan to retire.