Follow-up: Olin Corp. upgraded to Outperform at Wells Fargo Wells Fargo upgraded Olin Corp. (OLN) to Outperform from Market Perform citing Dow Chemical's (DOW) announcement that it would shutter excess chloralkali capacity. The firm believes Dow's announcement removes a key overhang on shares of Olin Corp. and raised its price target range for the stock to $26-$28 from $21-$23.
U.S. Chemicals sector initiated with an Overweight at RBC Capital RBC Capital started the U.S. Chemicals sector with an Overweight rating citing the growth of shale gas. The firm lists ethylene stocks LyondellBasell (LYB), Westlake Chemical (WLK) and Dow Chemical (DOW) its top picks in the space. RBC views coatings stocks as good ways to play the pending recovery in construction, and has Outperform ratings on Sherwin-Williams (SHW) and PPG Industries (PPG). RBC put its only Underperform rating in the sector on Axiall (AXLL), citing the company's short ethylene position and leverage to single-family housing.