Olin downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Olin to Neutral from Overweight with a price target of $48, down from $75. The analyst also removed the shares from the firm’s Analyst Focus List. There is no reason to think that demand from the construction markets is likely to be fundamentally stronger in the first half of 2024 than in the second half of 2023, the analyst tells investors in a research note. As such, the firm sees little price visibility for Olin’s commodity chemicals and for its 2024 EBITDA.