JPMorgan analyst Jeffrey Zekauskas upgraded Westlake (WLK) to Neutral from Underweight with an unchanged price target of $90. The shares are now trading close to fair value, the analyst tells investors in a research note. The firm expects Westlake to throw off 3% of its share price in free cash flow in 2026 and 8% in 2027. Given that polyethylene prices have risen by 40c per pound over the past two months in excess of export prices, “we would be surprised to find the May price increase successful,” contends JPMorgan.
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Read More on WLK:
- Westlake price target lowered to $115 from $120 at Deutsche Bank
- Westlake price target lowered to $125 from $145 at Citi
- Westlake downgraded to Underweight from Neutral at JPMorgan
- Westlake price target lowered to $106 from $115 at Morgan Stanley
- Westlake price target lowered to $130 from $139 at UBS