Westlake price target raised to $142 from $135 at Barclays

Barclays analyst Michael Leithead raised the firm’s price target on Westlake to $142 from $135 and keeps an Equal Weight rating on the shares. The analyst says belief in peaking rates and six quarters of destocking have led to some renewed optimism in materials shares. The firm ask if this is the start of a new cycle or another head-fake like last year’s “China reopening”? It is unclear, says Barclays, which is staying cautious with barbelled positioning in chemicals and packaging.