Seeking Alpha

Axiall raised to Buy at BofA on improved outlook for PVC resin market

  • Axiall (AXLL +1.9%) is upgraded to Buy from Neutral with a $52 target price at BofA/Merrill, which expects price increases in the PVC resin market more than offsetting potential weakness in caustic soda over the next 12-24 months.
  • After $0.06/lb. in price increases in January-February, the firm sees PVC prices rising another $0.02-$0.03/lb in March; the PVC hikes also are translating into higher prices in the downstream building products business.
  • BofA views AXLL as a beneficiary of a strong construction season in 2014 and further normalization in U.S. residential and nonresidential construction in 2015-16.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|