Goldman Sachs Upgrades Westlake Chemical (WLK) to Conviction Buy
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Price: $78.85 -0.76%
Rating Summary:
8 Buy, 16 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
8 Buy, 16 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Goldman Sachs upgraded Westlake Chemical (NYSE: WLK) to Conviction Buy with a price target of $74 (up from $67) citing leverage to lower ethane, higher oil prices.
The firm notes the oil-to-ethane ratio widened to a record-high 3.4x this month, which significantly benefits Westlake's US ethane-based crackers.
Goldman adjusted adjusting 2012/13 EPS estimates to $4.60/$7.00 from $4.34/$7.17.
For an analyst ratings summary and ratings history on Westlake Chemical click here. For more ratings news on Westlake Chemical click here.
Shares of Westlake Chemical closed at $57.64 yesterday.
The firm notes the oil-to-ethane ratio widened to a record-high 3.4x this month, which significantly benefits Westlake's US ethane-based crackers.
Goldman adjusted adjusting 2012/13 EPS estimates to $4.60/$7.00 from $4.34/$7.17.
For an analyst ratings summary and ratings history on Westlake Chemical click here. For more ratings news on Westlake Chemical click here.
Shares of Westlake Chemical closed at $57.64 yesterday.
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