Nomura Has Just Reaffirmed $108 Target Price Per Share on Westlake Chemical (NYSE:WLK) stock, While They’ve Also Reiterated Their Buy Rating

November 21, 2017 - By Louis Casey

 Nomura Has Just Reaffirmed $108 Target Price Per Share on Westlake Chemical (NYSE:WLK) stock, While They’ve Also Reiterated Their Buy Rating

Investors sentiment increased to 1.15 in Q2 2017. Its up 0.30, from 0.85 in 2017Q1. It increased, as 25 investors sold Westlake Chemical Corporation shares while 57 reduced holdings. 34 funds opened positions while 60 raised stakes. 39.33 million shares or 8.41% more from 36.27 million shares in 2017Q1 were reported.

Aperio Gru Ltd Limited Liability Company accumulated 16,836 shares or 0.01% of the stock. Glenmede Na holds 0% or 4,448 shares in its portfolio. Great West Life Assurance Can holds 0% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 8,235 shares. Dreman Value Mgmt L L C holds 0.29% in Westlake Chemical Corporation (NYSE:WLK) or 7,643 shares. Sterling Capital Ltd Com owns 20,400 shares. Lord Abbett & Ltd holds 79,100 shares. Voya Invest Mgmt Ltd Com reported 0% stake. Canada Pension Plan Board owns 106,883 shares. Zacks Mgmt reported 17,693 shares or 0.03% of all its holdings. Moreover, First Advsrs Ltd Partnership has 0.05% invested in Westlake Chemical Corporation (NYSE:WLK). 2.25M are owned by Soroban Capital Prtn Limited Partnership. James Inv Rech holds 267,461 shares or 0.55% of its portfolio. Moreover, State Of Tennessee Treasury Department has 0.03% invested in Westlake Chemical Corporation (NYSE:WLK). Jane Street Group Inc Limited Co reported 0.01% in Westlake Chemical Corporation (NYSE:WLK). Scout reported 333,042 shares.

Westlake Chemical (NYSE:WLK) Rating Reaffirmed

Westlake Chemical (NYSE:WLK) just had their share rating of a ‘Buy’ issued by research analysts at Nomura, who now has a $108 target price on the $12.23B market cap company or a 14.01 % upside potential. This key information was disclosed in a note on Wednesday morning.

Investors sentiment increased to 1.15 in Q2 2017. Its up 0.30, from 0.85 in 2017Q1. It increased, as 25 investors sold Westlake Chemical Corporation shares while 57 reduced holdings. 34 funds opened positions while 60 raised stakes. 39.33 million shares or 8.41% more from 36.27 million shares in 2017Q1 were reported.

Aperio Gru Ltd Limited Liability Company accumulated 16,836 shares or 0.01% of the stock. Glenmede Na holds 0% or 4,448 shares in its portfolio. Great West Life Assurance Can holds 0% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 8,235 shares. Dreman Value Mgmt L L C holds 0.29% in Westlake Chemical Corporation (NYSE:WLK) or 7,643 shares. Sterling Capital Ltd Com owns 20,400 shares. Lord Abbett & Ltd holds 79,100 shares. Voya Invest Mgmt Ltd Com reported 0% stake. Canada Pension Plan Board owns 106,883 shares. Zacks Mgmt reported 17,693 shares or 0.03% of all its holdings. Moreover, First Advsrs Ltd Partnership has 0.05% invested in Westlake Chemical Corporation (NYSE:WLK). 2.25M are owned by Soroban Capital Prtn Limited Partnership. James Inv Rech holds 267,461 shares or 0.55% of its portfolio. Moreover, State Of Tennessee Treasury Department has 0.03% invested in Westlake Chemical Corporation (NYSE:WLK). Jane Street Group Inc Limited Co reported 0.01% in Westlake Chemical Corporation (NYSE:WLK). Scout reported 333,042 shares.

Westlake Chemical Corporation (NYSE:WLK) Ratings Coverage

Among 15 analysts covering Westlake Chemical (NYSE:WLK), 10 have Buy rating, 1 Sell and 4 Hold. Therefore 67% are positive. Westlake Chemical has $114.0 highest and $52 lowest target. $81.21’s average target is -14.27% below currents $94.73 stock price. Westlake Chemical had 42 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has “Outperform” rating by RBC Capital Markets on Tuesday, August 23. Tudor Pickering initiated the shares of WLK in report on Friday, October 14 with “Hold” rating. On Tuesday, October 3 the stock rating was maintained by Cowen & Co with “Buy”. The stock of Westlake Chemical Corporation (NYSE:WLK) has “Outperform” rating given on Thursday, September 1 by Cowen & Co. On Monday, June 13 the stock rating was maintained by Cowen & Co with “Outperform”. The firm earned “Sector Perform” rating on Thursday, November 5 by RBC Capital Markets. The firm earned “Sector Perform” rating on Monday, June 13 by RBC Capital Markets. Bank of America maintained the shares of WLK in report on Wednesday, November 8 with “Neutral” rating. The stock has “Buy” rating by Cowen & Co on Friday, November 17. Goldman Sachs downgraded Westlake Chemical Corporation (NYSE:WLK) rating on Monday, August 10. Goldman Sachs has “Neutral” rating and $60 target.

About 125,632 shares traded. Westlake Chemical Corporation (NYSE:WLK) has risen 45.05% since November 21, 2016 and is uptrending. It has outperformed by 28.35% the S&P500.

Wall Street await Westlake Chemical Corporation (NYSE:WLK) to release earnings on February, 20. Analysts forecast earnings per share of $1.51, up exactly $0.64 or 73.56 % from 2014’s $0.87 EPS. The expected WLK’s profit could reach $194.80 million giving the stock 15.70 P/E in the case that $1.51 earnings per share is reported. After posting $1.65 EPS for the previous quarter, Westlake Chemical Corporation’s analysts now forecast -8.48 % negative EPS growth.

Westlake Chemical Corporation is a global maker and marketer of basic chemicals, vinyls, polymers and building products. The company has market cap of $12.23 billion. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods. It has a 20.57 P/E ratio. The Company’s divisions include Olefins and Vinyls.

More notable recent Westlake Chemical Corporation (NYSE:WLK) news were published by: Nasdaq.com which released: “Westlake Chemical Prices Senior Notes Offering Worth $500M” on November 15, 2017, also Nasdaq.com with their article: “Westlake Chemical Corporation (WLK) Looks Good: Stock Adds 6.5% in Session” published on November 08, 2017, Moodys.com published: “Moody’s assigns Baa3 rating to Westlake’s new notes” on November 13, 2017. More interesting news about Westlake Chemical Corporation (NYSE:WLK) were released by: Nasdaq.com and their article: “Westlake Chemical (WLK) Q3 Earnings: A Beat in the Cards?” published on November 03, 2017 as well as Seekingalpha.com‘s news article titled: “Westlake Chemical (WLK) Q3 2017 Results – Earnings Call Transcript” with publication date: November 07, 2017.

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