UPDATE: Credit Suisse Starts Oiln (OLN) at Underperform
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Credit Suisse analyst John Roberts initiates coverage on Oiln (NYSE: OLN) with a Underperform rating and a price target of $51.00.
The analyst comments "Underperform Rating Based on Chlor-Alkali Outlook: OLN is significantly exposed to chlorine, caustic soda, and ethylene dichloride (EDC), which we believe will face supply/demand pressure. We believe the impact of higher interest rates globally will cause a slowdown in demand for chlor-alkali end markets, and ultimately will decrease OLN’s earnings going forward."
Shares of Oiln closed at $53.41 yesterday.
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