Wells Fargo Upgrades Oiln (OLN) to Outperform

January 31, 2013 2:59 PM EST Send to a Friend
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Price: $28.55 --0%

Rating Summary:
    1 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Earlier, Wells Fargo upgraded Oiln (NYSE: OLN) from Market Perform to Outperform and raised its valuaiton range from $21-$23 to $26-$28.

The firm comments, "We are raising OLN from Market Perform to Outperform based on DOW's confirmation that it would shutter excess chloralkali capacity, so that the market will not be flooded with excess supply in H2 when its 800K MT facility starts up. This is the first time DOW has made such an indication and erases the key overhang on OLN shares. Therefore, we are raising our 2013 EPS estimate by $0.05 (reflected in Q4) to $2.20, and our 2014 outlook by $0.10 to $2.25."

For an analyst ratings summary and ratings history on Oiln click here. For more ratings news on Oiln click here.

Shares of Oiln closed at $22.53 yesterday.

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