LyondellBasell upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Jeffrey Zekauskas upgraded LyondellBasell to Overweight from Neutral with a price target of $100, up from $95. The shares traded down Friday following a “below-average” Q4 earnings performance, but there is a reasonable probability that Lyondell will increase its dividend by 5% in May, the analyst tells investors in a research note. The firm thinks a “high, relatively secure dividend” should fare well in a declining interest rate environment. Petrochemicals also tend to trade well in the event that the global economy shows signs of strength, says JPMorgan.