Barclays analyst Michael Leithead raised the firm’s price target on Westlake to $122 from $118 and keeps an Equal Weight rating on the shares. Investor conviction in U.S. chemical names is low entering earnings season as demand is "uneven," but energy cost relief should help, tells investors in a research note. However, valuations are "not as defensive or cheap" as it was on January 1, adds the firm. It does not think "it’s the time to be a hero" and continues to pick spots in the group.
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Published first on TheFly
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