Westlake price target raised to $130 from $125 at Wells Fargo

Wells Fargo analyst Michael Sison raised the firm’s price target on Westlake to $130 from $125 and keeps an Overweight rating on the shares. The firm senses Q4 was a trough for earnings, with demand improving for PVC/PE and operating rates moving above 80%, offsetting a weaker backdrop for construction. Wells sees chlor alkali and PE margins holding well above past lows.