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Westlake price target lowered to $94 from $103 at BMO Capital

BMO Capital analyst Bhavesh Lodaya lowered the firm’s price target on Westlake (WLK) to $94 from $103 and keeps a Market Perform rating on the shares. Westlake retains its positive traits that include a solid balance sheet, a relatively robust HIP – Housing and Infrastructure Products segment – platform and ongoing productivity actions, but the short-term commodity fundamentals for its PEM – Performance and Essential Materials segment – platform are trending materially weaker vs. prior expectations, the analyst tells investors in a research note.

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