Barclays upgrades Westlake to 'overweight'

Westlake

30/09/2024 11:40

** Barclays upgrades chemicals manufacturer Westlake
Corporation  WLK.N  to "overweight" from "equal weight"
    ** Barclays says WLK's housing and infrastructure products
(HIP) are well-positioned for a cyclical recovery in the U.S.
housing market, and lower interest rates would help stimulate
mortgage activity
    ** Brokerage raises PT to $180 from $162
    ** 9 of 20 analysts rate stock "buy", 9 "hold" and 2 "sell";
their median PT is $163 - LSEG data
    ** As of last close, stock was up nearly 7.2% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))