Olin downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Angel Castillo downgraded Olin to Underweight from Equal Weight with an unchanged price target of $50. The risk-reward is "increasingly skewed to the downside," argues Castillo, who said Olin’s "exemplary execution," aggressive repurchase program and tight commodity markets have bolstered shares. While the former two factors may persist, he thinks the latter market tightness is "increasingly showing signs of easing" and he views the stock as a potential relative under-performer.