Barclays upgraded Westlake to Overweight from Equal Weight with a price target of $180, up from $162. The firm says recent concerns on PVC pipe pricing and the CEO succession are overstated. With chemical and housing at a trough and a “robust” balance sheet with a long-term value creation track record, Westlake offers a “compelling opportunity” at current share levels, the analyst tells investors in a research note.
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