Westlake Chemical Given New $100.00 Price Target at Cowen and Company (WLK)
Research analysts at Cowen and Company boosted their target price on shares of Westlake Chemical (NYSE:WLK) from $75.00 to $100.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price suggests a potential upside of 14.85% from the stock’s previous close.
A number of other firms have also recently commented on WLK. Analysts at Zacks upgraded shares of Westlake Chemical from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $92.20 price target on the stock. Separately, analysts at Susquehanna raised their price target on shares of Westlake Chemical from $95.00 to $100.00 in a research note on Wednesday. Finally, analysts at Susquehanna raised their price target on shares of Westlake Chemical from $72.00 to $95.00 in a research note on Thursday, May 29th. They now have a “positive” rating on the stock. Four analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $90.44.
Shares of Westlake Chemical (NYSE:WLK) opened at 87.07 on Friday. Westlake Chemical has a 1-year low of $49.185 and a 1-year high of $91.97. The stock has a 50-day moving average of $86.21 and a 200-day moving average of $73.48. The company has a market cap of $11.617 billion and a P/E ratio of 17.50.
Westlake Chemical (NYSE:WLK) last released its earnings data on Tuesday, August 5th. The company reported $1.26 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.44 by $0.18. The company had revenue of $998.60 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts expect that Westlake Chemical will post $5.47 EPS for the current fiscal year.
Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.
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