Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

JP Morgan Ups Lyondell Chemical to Overweight

From Standard & Poor's Equity Research

JP Morgan upgraded Lyondell Chemical (LYO) to overweight from neutral, after the company said July 20 that it discontinued plans to sell the Lyondell-Citgo Refining LP partnership that operates a Houston refinery.

Analyst Jeffrey Zekauskas believes Lyondell Chemical should be able to buy the 41.25% of the LCR refinery it doesn't own on attractive terms, as the company has the contractual right of first refusal on any sale of the stake owned by its partner, CITGO Refining. The analyst assumes the purchase price for the stake would be $2.0 billion to $2.3 billion. He believes the purchase could add $4.75-$8.75 to Lyondell's stock price "in short order." He also believes the deal should be accretive to 2007 earnings per share (EPS) by 90 cents to $1.00.

blog comments powered by Disqus