Olin Corp. Rallies as New Price Targets Suggest Upside Potential

We recently published 10 Shock Winners on Wall Street. Olin Corporation (NYSE:OLN) is one of the best-performing stocks on Monday.

Olin Corporation saw its share prices increase by 5.09 percent on Tuesday to close at $21.89 apiece as investors took path from several analysts’ revisions of price targets for the company.

Following the release of its earnings performance on Monday, Olin Corporation (NYSE:OLN) earned lower price targets and conservative ratings from two investment firms.

Investment firm Mizuho, for its part, reduced its price target for the company to $23 from $24 previously, while UBS lowered its price target to $22 from $23 previously.

Olin Corp. Rallies as New Price Targets Suggest Upside Potential

However, both revised figures suggested an upside potential from Olin Corporation’s (NYSE:OLN) closing price of $20.89 on Monday, helping fuel the rally on Tuesday.

Despite the lower figures, both investment firms remained “neutral” for its stock.

In the second quarter of the year, Olin Corporation (NYSE:OLN) swung to an attributable net loss of $1.3 million from a $74.2 million net income in the same period last year, weighed down by higher expenses.

Sales, however, were higher by 7.3 percent to $1.76 billion versus the $1.64 billion year-on-year.

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