BMO Capital upgraded Westlake (WLK) to Outperform from Market Perform with a price target of $127, up from $108. The temporary shuttering of 12%-13% of the world’s polyethylene supply due to the Iran conflict significantly tightens supply, the analyst tells investors in a research note. The firm says this dynamic along with widening ethane advantage should drive strong earnings recovery in Westlake’s PEM platform. It sees strong momentum for the company’s 2026 and 2027 earnings.
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