Olin initiated with a Hold at Deutsche Bank

Deutsche Bank initiated coverage of Olin with a Hold rating and $52 price target, representing upside potential of 5%. Following a challenging 2023 during which Olin’s EBITDA is forecasted to fall nearly 50%, things will not get materially better next year, the analyst tells investors in a research note. The firm says 2024 is shaping up to be the trough of the chlor-alkali cycle with ECU margins down an estimated 36%.