Westlake Chemical Corp. Upgraded to “Outperform” by Zacks (WLK)
Westlake Chemical Corp. (NYSE:WLK) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, Analyst Ratings Network.com reports. The firm currently has a $125.10 target price on the stock. Zacks‘ target price would suggest a potential upside of 1.98% from the stock’s previous close.
Westlake Chemical Corp. (NYSE:WLK) last announced its earnings results on Thursday, November 7th. The company reported $2.54 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.22 by $0.32. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $939.14 million. During the same quarter in the prior year, the company posted $1.47 earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at Susquehanna upgraded shares of Westlake Chemical Corp. from a “neutral” rating to a “positive” rating in a research note to investors on Friday, December 27th. They now have a $145.00 price target on the stock, up previously from $118.00. Separately, analysts at Cowen and Company raised their price target on shares of Westlake Chemical Corp. from $112.00 to $135.00 in a research note to investors on Friday, December 6th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Westlake Chemical Corp. from $104.00 to $112.00 in a research note to investors on Thursday, November 7th. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Westlake Chemical Corp. has a consensus rating of “Buy” and an average target price of $126.22.
Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.
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