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Fly News Breaks for September 13, 2019
WLKP
Sep 13, 2019 | 05:31 EDT
Barclays analyst Michael Leithead upgraded Westlake Chemical Partners to Overweight from Equal Weight with an unchanged price target of $27. With global yields diminishing, Westlake's valuation and 8.5% current distribution yield, which is growing 12% annually, is "incongruent with the market backdrop," Leithead tells investors in a research note. He finds the company's current distribution yield attractive, distribution growth well above average, and its cash flow risk profile well below average.
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