Westlake price target lowered to $165 from $171 at BMO Capital

BMO Capital lowered the firm’s price target on Westlake (WLK) to $165 from $171 and keeps a Market Perform rating on the shares. The company’s Q3 was hurt by temporary operational and weather impacts, excluding which results would have come largely in line with expectations, and looking ahead, Westlake management expects typical weaker seasonality to impact Q4, the analyst tells investors in a research note. BMO adds that it continues to see Westlake as one of the better positioned commodity-exposed company in its broader coverage.