Westlake price target lowered to $134 from $139 at RBC Capital

RBC Capital lowered the firm’s price target on Westlake to $134 from $139 and keeps a Sector Perform rating on the shares. The company’s Q1 outlook suggests persisting macro weakness, lower margins for its Housing and Infrastructure Products segment, and price pressure in the Performance and Essential Materials segment, the analyst tells investors in a research note. Given the slower recovery in China and lower price pressuring margins, the firm is also reducing its FY24 EPS view to $7.00 from $8.12.