UPDATE: KeyBanc Upgrades Oiln (OLN) to Overweight

March 14, 2022 3:27 AM EDT
Get Alerts OLN Hot Sheet
Price: $46.99 --0%

Rating Summary:
    18 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 6 | New: 11
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(Updated - March 14, 2022 6:24 AM EDT)

KeyBanc analyst Aleksey Yefremov upgraded Oiln (NYSE: OLN) from Sector Weight to Overweight with a price target of $64.00.

The analyst comments "We see the recent spike in global energy as favorable to OLN, both in the short and long term. We estimate European chlor-alkali (12% of global capacity) cash costs would rise ~$700/ton in March vs. February if current forward electricity prices in the region hold. This benefits OLN, which has no chlor-alkali assets in Europe. This only adds to already tight caustic soda markets. We also believe that the long-term chlor-alkali costs will be higher in Europe as a result of the Russia/Ukraine conflict. We upgrade OLN to Overweight with a $64 PT."

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 $48.67 yesterday.

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