Westlake slips after BMO cuts to 'market perform'

Westlake

09/09/2026 12:48

** Westlake Corp WLK.N shares down 2.3% to $73 in premarket trading
** BMO Capital Markets cuts to "market perform" from "outperform"; reduces PT to $82 from $96, which represents a 9.7% upside to stock's last close
** "With commodity prices having leveled/fallen and mortgage rates reaching new highs (further muddying the housing recovery), we believe it makes sense to step to the sidelines and wait for a better entry point," says brokerage
    ** BMO says it upgraded WLK at the start of the Iran conflict expecting "they would benefit from the lift in oil prices (given their lower cost energy/raws) which would bridge them to a 
housing recovery"
** Up to last day's close, WLK is up 1.1% YTD

 (Reporting by Sudeshna Ghoshal in Bengaluru)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))