RBC Capital lowered the firm’s price target on Westlake (WLK) to $79 from $87 and keeps an Outperform rating on the shares after its Q3 earnings miss. The company is seeing pressure in PEM margins from lower cracking/polymerization contribution, and given PVC/PE/Caustic markets are well-supplied, price gains are less likely in Q4, the analyst tells investors in a research note.
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