Truist analyst Peter Osterland raised the firm’s price target on Westlake (WLK) to $127 from $117 and keeps a Buy rating on the shares. The company’s earnings stand to benefit in the near term from sharply higher pricing dynamics primarily within its PEM – Performance and Essential Materials – segment as foreign competition across several petrochemical chains has been impacted by higher feedstock prices and disruptions related to the Iran conflict, the analyst tells investors in a research note.
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