Westlake price target raised to $115 from $80 at Morgan Stanley

Morgan Stanley analyst Vincent Andrews raised the firm’s price target on Westlake (WLK) to $115 from $80 and keeps an Equal Weight rating on the shares ahead of its Q1 results. The firm is updating its model to reflect improvement in PEM – Performance and Essential Materials – from Iran based supply disruption, partially offset by near-term cost headwinds in HIP – Housing and Infrastructure Products, the analyst tells investors in a research note.