Westlake Chemical (WLK +1%) is upgraded to Neutral from Sell at UBS, which also lifts its target...


Westlake Chemical (WLK +1%) is upgraded to Neutral from Sell at UBS, which also lifts its target price to $90 from $66, reflecting its view that U.S. ethane will remain oversupplied through 2016 and trade at a significant discount to traditional floor values based on natural gas prices. The firm looks for WLK's margins from light crackers to continue in the mid-to-upper $0.20/lb area.

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