Westlake Chemical (WLK) shares surged 5.09% during intraday trading on Friday, following a significant price target increase from Goldman Sachs.
The investment bank raised its price target on Westlake Chemical to $111 from $78, representing a substantial 42% increase, while maintaining a Neutral rating on the shares. This analyst action likely contributed to the stock's upward momentum as investors reacted to the more optimistic valuation.