Olin downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler downgraded Olin (OLN) to Neutral from Overweight with a price target of $33, down from $41. The challenges Olin faces due to the difficult economic conditions in Europe and Asia will not be able to be offset by other improvements in the U.S. markets in 2025, the analyst tells investors in a research note. The firm says epoxy markets will likely remain “problematic” as will the recovery of Winchester earnings as downstream customers destock product at least through the first half of 2025. Olin will also have to deal with the closure of the Dow propylene oxide facility, which will probably cause some disruption in the chloralkali markets, adds Piper.