Goldman Sachs analyst Robert Koort upgraded LyondellBasell Industries to Buy and raised his price target for the shares to $125 from $104. With the potential for the ethylene chain to establish a new trough in the coming quarters, investors are likely to reassess the cyclical parameters for ethylene stocks and conclude that the new trough looks a lot like prior mid-cycle levels, which should drive valuations "substantially higher," Koort tells investors in a research note. He points out that it has been several years since the ethylene chain peaked reflecting new capacity entering the marketplace and the decline from prior elevated oil prices that had supported peak product pricing. The analyst sees 48% potential upside in shares of LyondellBasell.