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Westlake price target lowered to $101 from $118 at UBS

UBS lowered the firm’s price target on Westlake (WLK) to $101 from $118 and keeps a Buy rating on the shares. While UBS still sees Westlake’s key commodity products, PVC and caustic, as more favorably positioned within the firm’s coverage due to a lower rate of capacity additions, the firm reduced its earnings forecast to reflect near-term challenges in the Performance and Essential Materials segment, the analyst tells investors in a research note. UBS sees Westlake’s earnings and valuation as near a trough.

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