Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Goldman Downgrades Westlake Chemical and NOVA Chemicals

Goldman Sachs cut Westlake Chemical (WLK) and NOVA Chemicals (NCX) to underperform from in-line.

Analyst Edlain Rodriguez has become more bearish on share price prospects due to valuation. He sees nearly 20% to 25% downside as these stocks are trading above their peak values: NOVA Chemicals is at 8.8 times estimated 2006 peak earnings per share (EPS,) and Westlake Chemical is at 9.4 times. He believes investors may be reluctant to pay up for one to two quarters of unsustainable EPS before ethylene margins begin a long, painful retreat in the second half.

blog comments powered by Disqus