UBS upgraded Westlake (WLK) to Buy from Neutral with a $144 price target The firm expects Q4 earnings for North America Chemicals and Packaging to be challenging, but with the sector on average down 10% over the last month, this negativity may already be priced in, the analyst tells investors in a research note. The catalyst on the cyclical side could take a bit of time, but UBS sees the risk/reward becoming much more favorable.
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