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Fly News Breaks for October 9, 2019
WLK
Oct 9, 2019 | 06:28 EDT
Citi analyst P.J. Juvekar downgraded Westlake Chemical to Neutral from Buy with a price target of $23, down from $26. The third quarter for Chemicals felt like a continuation of the second quarter, with weak autos and construction activity as well as slowing global trade, Juvekar tells investors in a research note. The analyst has turned cautious on chlor-alkali and has moved to the sidelines on the chlor-alkali chain. Although there is not much capacity on the horizon, demand has been softer this year and is unlikely to pick up, contends Juvekar.
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