JPMorgan Chase & Co. (JPM) Analysts Lower Price Target on Westlake Chemical Corp (WLK) to $60.00
Tuesday, June 28, 2021 12:10 PM

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Equities research analysts at JPMorgan Chase & Co. (NYSE: JPM) lowered their price target on shares of Westlake Chemical Corp (NYSE: WLK) to $60.00 in a research note to investors on Tuesday.

Separately, analysts at UBS AG (NYSE: UBS) raised their price target on shares of Westlake Chemical Corp from $44.00 to $50.00 in a research note to investors on Monday, April 18th. They now have a "sell" rating on the stock. Also, analysts at Zacks Investment Research reiterated an "outperform" rating on shares of Westlake Chemical Corp in a research note to investors on Thursday, April 7th.

Shares of Westlake Chemical Corp traded down 1.78% during mid-day trading on Wednesday, hitting $50.69. Westlake Chemical Corp has a 52 week low of $17.34 and a 52 week high of $67.77. The stock's 50-day moving average is $53.61 and its 200-day moving average is $50.16. The company has a market cap of $3.375 billion and a price-to-earnings ratio of 11.98.

Westlake Chemical Corp last announced its quarterly results on Tuesday, May 3rd. The company reported $1.25 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.02 EPS by $0.23. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 11.40% on a year-over-year basis. On average, analysts predict that Westlake Chemical Corp will post $1.16 EPS next quarter.

Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated products. The Company’s products include chemicals, which are fundamental to many consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. The Company operates in two segments: Olefins and Vinyls. The Company manufactures ethylene, polyethylene, styrene and associated co-products at its manufacturing facility in Lake Charles, Louisiana and polyethylene at its Longview, Texas facility. The products in the Company’s integrated Vinyls segment include polyvinyl chloride (PVC), VCM, ethylene dichloride (EDC), chlorine, caustic soda and ethylene. It also manufactures and sells products fabricated from the PVC it produces, including pipe, fence and deck, and window and door components.

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