Westlake Chemical Price Target Raised to $80.00 at JPMorgan Chase & Co. (WLK)
Equities researchers at JPMorgan Chase & Co. upped their target price on shares of Westlake Chemical (NYSE:WLK) from $74.50 to $80.00 in a research report issued on Tuesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 4.26% from the stock’s previous close.
Westlake Chemical (NYSE:WLK) traded up 2.02% during mid-day trading on Tuesday, hitting $76.73. 1,239,322 shares of the company’s stock traded hands. Westlake Chemical has a 52-week low of $44.525 and a 52-week high of $77.51. The stock’s 50-day moving average is $66.84 and its 200-day moving average is $61.7. The company has a market cap of $10.231 billion and a P/E ratio of 16.55.
Westlake Chemical (NYSE:WLK) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $975.86 million. During the same quarter in the previous year, the company posted $1.84 earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts predict that Westlake Chemical will post $5.20 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on WLK. Analysts at Cowen and Company raised their price target on shares of Westlake Chemical from $67.50 to $75.00 in a research note on Tuesday, April 15th. They now have an “outperform” rating on the stock. Analysts at Susquehanna cut their price target on shares of Westlake Chemical from $145.00 to $72.00 in a research note on Tuesday, April 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.68.
Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.
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