BofA Securities analyst Steve Byrne maintains $Olin (OLN.US)$ with a hold rating, and adjusts the target price from $51 to $48.
According to TipRanks data, the analyst has a success rate of 43.6% and a total average return of -1.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Olin (OLN.US)$'s main analysts recently are as follows:
The valuation of Olin remains low, which counterbalances the persistent downside risks to earnings. Sluggishness in end-markets persists. While China's moderate stimulus has been somewhat beneficial, it is not sufficient to markedly enhance Olin's operating rates.
The 'Scott Sutton bump' has largely dissipated, and currently, there lacks a pressing incentive to acquire shares, particularly with the high level of uncertainty preceding the investor day in December.
Post Q3 report observations indicate that, despite projections of hurricane-related impacts amounting to $135M in EBITDA for Olin in 2024, the subsequent year is expected to experience a double-digit EBITDA growth baseline. Nonetheless, a distinct robustness in any of Olin's end markets has not been identified. It has been noted that while demand for caustic soda remains weak, prices are on an upward trend due to producer outages.
Note:
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