Westlake Likely to Benefit From Higher Prices, Lower Costs, RBC Says

MT Newswires Live05-12

Westlake (WLK) is expected to benefit from cost reductions and pricing actions, RBC Capital Markets said in a note Friday.

The report pointed to "solid" order books into Q2, with price increases offsetting higher cost, albeit with some lags.

"Additionally, WLK's cost reductions and pricing actions should create further uplift into Q3," the report said.

The note also said the company remains confident in its ability to raise EBITDA by about $600 million from a year ago, which could rise further on an extended Hormuz closure.

RBC kept its outperform rating while lowering its price target to $130 from $145.

Price: 98.28, Change: +4.43, Percent Change: +4.71

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