UBS Maintains a 'Neutral' on Oiln (OLN); Caustic Momentum Materializes

UBS maintains a 'Neutral' on Oiln (NYSE: OLN), PT increased from $19 to $25.
UBS analyst says, "Japanese tsunami gives global chlor-alkali impetus - In recent weeks, the US chlor-alkali market has seen price initiatives gaining traction after an extended period of indecisiveness in the first quarter. The first quarter caustic price increase of $40/ST was finally implemented in March, and a new $60/ST increase is sought in 2Q. Producers have nominated a $60/ST chlorine prices increase for 2Q."

"We are raising our 2011 EPS to $2.45 from $1.15 on the strength of the near-term caustic price increases that we believe will be successful. For 2012, we are increasing our earnings forecast to $2.60 from $1.27 on improved chlor-alkali margins."

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

Shares of Oiln closed at $25.16 yesterday.

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