Shares of Olin (OLN +0.9%) move up after Monness Crespi Hardt raises its rating to Buy and put a...

|About: Olin Corporation (OLN)|By:, SA News Editor

Shares of Olin (OLN +0.9%) move up after Monness Crespi Hardt raises its rating to Buy and put a $31 price tag on the shares. The firm says that approximately $500M has been spent by the company over the past two years to exit mercury cell production, build out bleach capacity and move its Winchester manufacturing capacity to Mississippi. Going forward, the depreciation schedule should rise, capex will drop and free cash flow is anticipated to expand rapidly.