Olin downgraded to Neutral at BofA amid slower-than-expected industrial recovery

BofA downgraded Olin to Neutral from Buy with a price target of $51, down from $62. An anticipated operating rate recovery is not materializing as expected and the slower-than-expected recovery is taking “a much bigger-than-expected toll on its earnings,” says the analyst, who lowered the firm’s chlorine/caustic soda price forecasts for 2025 and sees a more muted bounce-back in epoxies following soft market dynamics seen in Q2.