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Fly News Breaks for November 15, 2018
WLK
Nov 15, 2018 | 07:48 EDT
SunTrust analyst James Sheehan lowered his price target on Westlake Chemical to $81 after its Q3 earnings miss, noting that the company's Q4 seasonal slowdown will also be "exacerbated by inventory destocking amid trade uncertainty". The analyst also expects Westlake Chemical's margins to be pressured by the recent spike in natural gas prices. Sheehan maintains his Buy rating on the shares with a positive view of the company's chlor-alkali fundamentals and an advantaged cost position, adding that the tariff headwinds are also likely priced in to the stock.
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