BofA downgraded Westlake (WLK) to Neutral from Buy with a price target of $87, up from $86. The stock is fairly-valued when balancing persistent challenges in Performance and Essential Materials, PEM, segment against solid Housing and Infrastructure Products profitability, the analyst tells investors in a research note. The firm is also reducing its 2025 and 2026 EBITDA estimates to $1.28B and $1.605B from $1.34B and $1.80B previously on lower PEM earnings, BofA added.
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