BofA downgrades Westlake to Neutral, calls consensus ‘overly optimistic’

As previously reported, BofA analyst Steve Byrne downgraded Westlake to Neutral from Buy with a price target of $134, down from $142, reflecting what the firm calls its "more conservative PVC outlook" and what it views as "an overly optimistic consensus" forecast. Domestic demand "remains tepid," while internationally "the rush of buying from India is over," the analyst tells investors.