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Goldman Sachs Upgrades Westlake Chemical (WLK) to Conviction Buy

February 27, 2012 6:59 AM EST
Get Alerts WLK Hot Sheet
Price: $152.80 +0.30%

Rating Summary:
    5 Buy, 16 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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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.


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