LyondellBasell upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded LyondellBasell (LYB) to Outperform from Sector Perform with a price target of $82, up from $51. The firm is more positive on the shares following the recent events in Iran. LyondellBasell has significant leverage to an olefins and polyolefins recovery, mostly due to constrained global supply, the analyst tells investors in a research note. RBC believes the company’s recent dividend cut “de-risks the stock and positions it well for a recovery.”