Oiln (OLN) PT Raised to $100 as Stifel Expects Upside From Hydrogen and Mitsui
- Futures bounce after brutal Wall Street selloff
- From TINA to TARA: Goldman Gets More Defensive, Downgrades Equities to Underweight
- BofA Clients are Buying Defensive Stocks, Shifting Away from Cyclicals - Analyst
- Dollar pauses for breath as fragile pound edges up
- Oil rises from 9-month low on U.S. Gulf supply cuts, softer dollar
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Stifel analyst Vincent Anderson raised the price target on Oiln (NYSE: OLN) to $100.00 (from $95.00) while raising estimates for following a solid start to the year with positive 2Q results and 2022 guidance.
The analyst reiterated a Buy rating, stating "Despite operational issues in CA&V and a throttled back Epoxy business, markets remain more than strong enough for a positive sequential guide on consolidated results, including an improved outlook for Winchester on continued commercial ammunition strength. The announcement of the Plug Power hydrogen JV, while small, highlights material upside optionality for Olin over the medium term given likely minimal incremental cost and the higher value of byproduct hydrogen into fuel cell markets. We believe a reasonably conservative total EBITDA contribution from the North American footprint could eventually top $100 mn of EBITDA. Layering this on top of the planned Mitsui JV, which will significantly increase logistical reach and total spot tonnage under a more price-focused commercial strategy, we see attractive upside to out-year estimates free from commodity S/D opinions."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: DBS Group Upgrades China Life Insurance (2628.HK) (LFC) to Buy, 'Seeing book quality improvements'
- Fresh Tracks Therapeutics (FRTX) PT Raised to $9 at Oppenheimer Following Reverse Split
- Akzo Nobel NV (AKZA:NA) (AKZOY) PT Lowered to EUR72 at JPMorgan Following Demand Warning
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!