Westlake price target lowered to $83 from $91 at BMO Capital

BMO Capital analyst Bhavesh Lodaya lowered the firm’s price target on Westlake (WLK) to $83 from $91 and keeps a Market Perform rating on the shares after its Q3 earnings and revenue miss. The company is taking fresh actions to counter the ongoing trough in their commodity platforms and a delayed housing recovery, the analyst tells investors in a research note. Westlake HIP – Housing and Infrastructure Products – segment is seen coming at the lower end of the recently revised guide, the firm added.