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Fly News Breaks for February 26, 2019
WLK
Feb 26, 2019 | 08:54 EDT
As reported previously, Susquehanna analyst Don Carson downgraded Westlake Chemical to Neutral from Positive. The analyst cut his estimates due to lower caustic, polyethylene, and PVC prices. He continues to have confidence in the positive up-cycle for chlor-alkali, but Westlake's exposure to polyethylene, which has not yet seen a cyclical bottom, keeps him on the sidelines. Carson lowered his price target to $75 from $88 on Westlake Chemical shares.
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