RBC Capital lowered the firm’s price target on Westlake (WLK) to $88 from $96 and keeps an Outperform rating on the shares. The firm’s discussions with the company’s management indicated ongoing headwinds in both the PEM -Performance and Essential Materials – segment, with Petro 1 outage extended to mid-April and the HIP – Housing and Infrastructure Products – segment, with weak housing demand weighing on volumes, resulting in lower expectations for Q2 earnings, the analyst tells investors in a research note.
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Read More on WLK:
- Westlake price target lowered to $101 from $118 at UBS
- Westlake price target lowered to $85 from $95 at Citi
- Westlake price target lowered to $90 from $105 at Deutsche Bank
- Westlake price target lowered to $94 from $103 at BMO Capital
- Hold Rating for Westlake Chemical Amid Weakened Short-Term Fundamentals and Challenging Commodity Backdrop
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