Dwight Anderson of Ospraie Likes West Like Chemical, Palladium
Earlier at Ira Sohn, Dwight Anderson of Ospraie presented two major trading ideas.
His first was West Lake Chemical (NYSE: WLK). Anderson stated that he had a price target on the stock north of $95 per share. Currently, shares are currently trading near $55.
He stated that the company's earnings power should increase in the future, while its competitors continue to bleed cash. Anderson expected West Lake to earn about $5 per share this year, analysts estimate that the company should only earn about $4.82.
Anderson also said that he liked the commodity palladium, especially over platinum. He stated that palladium was being used increasingly more often in gasoline engines.
Anderson also touched on natural gas, stating that it should hit $4 in 2014.
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