Yahoo Finance

Mizuho lowered the firm’s price target on Westlake (WLK) to $107 from $132 and keeps an Outperform rating on the shares. The firm updated price targets in the chemicals, agriculture, and packaging sector to reflect the recent market multiple reductions, and only modestly reduce forward year estimates as Mizuho does not have a recession forecast. However, lower oil prices will reduce the gas-linked cost advantage for many of the basic chemical stocks, the analyst tells investors in a research note. The firm believes March quarter pre-buying for autos and electronics creates “risk for give-back near-term.”

Stay Ahead of the Market:

• Discover outperforming stocks and invest smarter with Top Smart Score Stocks.

• Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See today’s best-performing stocks on TipRanks >>

Read More on WLK:

Disclaimer & DisclosureReport an Issue

• Westlake upgraded to Buy at BofA after selloff

• Westlake upgraded to Buy from Neutral at BofA

• Westlake price target lowered to $132 from $155 at Truist

• Westlake price target lowered to $122 from $133 at RBC Capital

• Westlake price target lowered to $110 from $130 at Wells Fargo