Barclays downgraded Olin to Equal Weight from Overweight with a price target of $52, down from $60, ahead of the Q3 report. Chemical demand is “still tepid and outlooks are muted,” but there is more value opportunities emerging from equity mispricings, the analyst tells investors in a research note. The firm says that while the chemicals market is still at trough, market volatility is creating equity opportunities. Olin was the firm’s only downgrade as part of its Q3 chemical preview.
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