JPMorgan Downgrades Oiln (OLN) to Neutral

JPMorgan analyst Jeffrey Zekauskas downgraded Oiln (NYSE: OLN) from Overweight to Neutral with a price target of $18.00 (from $19.00).

The analyst comments "We reduced our 3Q:19 EBITDA for Olin from $310m to $290m to primarily lower caustic soda and ethylene dichloride prices. Our 2020 and 2021 estimates are also lower on a more cautious caustic soda price outlook. We previously modeled caustic soda prices rising in 2H:19 on a sequential basis; we now anticipate moderate decline. Caustic soda remains long in the US Gulf Coast: alumina prices and demand have been lackluster and the pulp and paper markets have been stunted by ongoing US-China trade tensions."

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 $18.25 yesterday.

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