UBS Upgrades Oiln (OLN) to Buy; too many improvement to ignore
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UBS analyst John Roberts upgraded Oiln (NYSE: OLN) from Neutral to Buy with a price target of $62.00 (from $45.00).
The analyst commented, "We upgrade OLN to Buy & raise our price target to $62 from $45 (~24% potential upside). OLN's stock is up ~4x since start of new CEO (former COO of CE), but we see upside given improved supply/demand dynamics for CAV. While 2021 EBITDA is a temporary peak due to one-time gains, OLN is early in a new strategy to optimize chlorine-related earnings & has announced capacity rationalization in an environment with little new capacity slated for startup. OLN management is attempting to improve Epoxy margins (target margins ~1700bps higher than 1Q21). Winchester earnings have outperformed since taking control of a U.S. military small caliber ammo plant in 4Q20. UBS will host CEO & CFO in Kansas City on Jun 18, & host head of chlorine-related ops. (~70% of 2022e segment EBITDA) in NYC on Jun 23."
Shares of Oiln closed at $47.94 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Upgrades, Upgrades
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