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UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Westlake Chemical Corporation

Related WLK
Earnings Scheduled For May 3, 2016
Westlake Chemical Reports Filing of Definitive Proxy Statement, Investor Presentation Related to Axial Annual Meeting

In a report published Monday, J.P. Morgan & Co. reiterated its Neutral rating on Westlake Chemical Corporation (NYSE: WLK), and raised its price target from $64.00 to $76.00.

J.P. Morgan noted, “We believe that Westlake shares are fully valued at current levels. Westlake's exposure to North American ethylene NGL economics makes it an attractive longer-term investment vehicle. Westlake is the company with the largest per share earnings leverage to changes in North American ethane-ethylene economics. In 2Q:13, Westlake will benefit from the startup of additional ethylene capacity. Westlake's chlor-alkali integration will improve in 2H:13 with the startup of an additional chloralkali unit, and should improve the profitability of Vinyls. Additional PVC capacity and a second ethylene debottlenecking in 2014 will further increase Westlake's production.”

Westlake Chemical Corporation closed on Friday at $77.11.

Latest Ratings for WLK

May 2016JP MorganMaintainsOverweight
Nov 2015RBC CapitalDowngradesOutperformSector Perform
Sep 2015Deutsche BankMaintainsHold

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Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings


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