RBC Capital lowered the firm’s price target on Westlake (WLK) to $133 from $147 and keeps an Outperform rating on the shares after its Q4 results. Market conditions remain choppy, but Westlake remains positive on long-term fundamentals given US housing remains underbuilt, the analyst tells investors in a research note. Westlake continues to see strong sales in pipe/fittings, which it perceives to be a leading indicator for the upcoming construction season, the firm adds.
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