Westlake upgraded to Buy from Neutral at UBS with earnings near trough

UBS upgraded Westlake (WLK) to Buy from Neutral with a $144 price target UBS sees Westlake’s earnings and valuation as near a trough, creating an attractive entry point into the stock ahead of potential positive inflections in macro data later this year, the analyst tells investors in a research note. Additionally, the build out of Westlake’s Housing & Infrastructure segment provides favorable exposure to an eventual turn in the U.S. housing market, which still remains structurally underbuilt, UBS adds.