Westlake price target lowered to $106 from $107 at KeyBanc

KeyBanc analyst Aleksey Yefremov lowered the firm’s price target on Westlake to $106 from $107 and keeps an Underweight rating on the shares. Commodity chemical prices are continuing to see weakness, with unit margins likely to see sequential declines in Q2 and Q3, the analyst tells investors in a research note. Demand for commodity chemicals in Q2 is also largely disappointing, missing the typical seasonal pickup, the firm says.