UBS Maintains a 'Neutral' on Oiln (OLN); Raising Estimates to Reflect Accretive Nature of Acquisition
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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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UBS maintains a 'Neutral' on Oiln (NYSE: OLN) price target of $22.00 (from $21.00).
Analyst, Gregg A. Goodnight, said, "This week, Olin completed its acquisition of K.A. Steel, a leading caustic distributor with a significant bleach presence in the Midwest US. Olin paid $328 million in cash for this privately-held business in a debt-free transaction. We view this acquisition very positively, as the acquired businesses complement and extend Olin’s chlor-alkali assets and product footprint."
"We are increasing our 2012 EPS to $2.05 from $1.90 to reflect the accretive nature of the acquisition and current industry margins. For 2013, we are increasing EPS to $2.10 from $2.00 in part due to an assumed 3-percentage-point lower tax rate."
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 $21.40 yesterday.
Analyst, Gregg A. Goodnight, said, "This week, Olin completed its acquisition of K.A. Steel, a leading caustic distributor with a significant bleach presence in the Midwest US. Olin paid $328 million in cash for this privately-held business in a debt-free transaction. We view this acquisition very positively, as the acquired businesses complement and extend Olin’s chlor-alkali assets and product footprint."
"We are increasing our 2012 EPS to $2.05 from $1.90 to reflect the accretive nature of the acquisition and current industry margins. For 2013, we are increasing EPS to $2.10 from $2.00 in part due to an assumed 3-percentage-point lower tax rate."
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 $21.40 yesterday.
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