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LSB Industries added to Conviction List at Avondale; shares +32%

May 06, 2016 11:59 AM ETLSB Industries, Inc. (LXU) StockLXUBy: Carl Surran, SA News Editor
  • LSB Industries (LXU +32.2%) is added to the Conviction List at Avondale Partners, which cites a likelihood of near term positive news and the potential for a rapid share price recovery as ammonia production is confirmed.
  • The firm thinks that once El Dorado Chemical has some operating history, LSB likely will pursue a broad refinancing that could be bolstered by the coincident sale of its climate control business, which would reduce leverage and result in a stronger and more viable company.
  • Avondale, which has an Market Outperform rating on the stock, says LSB is starting up the ammonia synthesis loop and activating catalysts and could begin ammonia production within two weeks.
  • Shares are rebounding from yesterday's big loss after reporting a larger than expected Q1 loss.

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