UBS Maintains a 'Neutral' on Oiln (OLN); Cautious Outlook

UBS maintains a 'Neutral' on Oiln (NYSE: OLN), price target lowered from $25 to $23.

UBS analyst says, "Olin reported 2Q adjusted EPS of $0.46, near its guidance and slightly below the consensus of $0.50. GAAP EPS of $0.52 included $9 million of environmental expense recoveries. We had expected the company to beat in 2Q, but lower than expected caustic price increases and operating rates in the chlor-alkali segment capped earnings...We are cutting our 2011 EPS estimate to $1.70 from $2.10 to reflect the 2Q shortfall and our lowered second half outlook. Our 3Q EPS estimate is now $0.57, near the company’s guidance range of $0.50 to $0.55 per share. The company’s 3Q guidance is on a GAAP basis and includes anticipated charges of $0.02."

For more ratings news on Oiln click here and for the rating history of Oiln click here.

Shares of Oiln closed at $21.50 yesterday.

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