Wells Fargo Starts Oiln (OLN) at Outperform; Attractive Business With High Dividend Yield
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Price: $19.10 +0.21%
Rating Summary:
11 Buy, 17 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 17 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo initiates coverage on Oiln (NYSE: OLN) with an Outperform. PT range $22-$24.
Wells analyst says, "We believe the combination of a strong chloralkali market, steady Winchester business, solid balance sheet, and a large dividend yield results in a recipe for outperformance. Our valuation range of $22-24 reflects a 5.0x enterprise value (EV)-to-2012E EBITDA multiple, below the historical average. We introduce our 2011E EPS at $1.90 and 2012E at $2.20."
For more ratings news on Oiln click here and for the rating history of Oiln click here.
Shares of Oiln closed at $18.28 yesterday.
Wells analyst says, "We believe the combination of a strong chloralkali market, steady Winchester business, solid balance sheet, and a large dividend yield results in a recipe for outperformance. Our valuation range of $22-24 reflects a 5.0x enterprise value (EV)-to-2012E EBITDA multiple, below the historical average. We introduce our 2011E EPS at $1.90 and 2012E at $2.20."
For more ratings news on Oiln click here and for the rating history of Oiln click here.
Shares of Oiln closed at $18.28 yesterday.
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