Westlake Chemical Climbs to a One-Year High on JPMorgan Upgrade

Shares of Westlake Chemical (NYSE:WLK) are trading 9% higher to $25.39, and earlier climbed 12%, the most intraday since March 2009, after the maker of vinyl and plastics upgraded to "overweight" from "neutral" at JPMorgan Chase & Co.

The firm believes 2010 should start relatively strongly for the company as plant outages in the industry have led to ethylene and polyethylene being in short supply, which will help margins.