Mizuho initiated coverage of Olin (OLN) with a Neutral rating and $45 price target. The company has a new CEO but doesn’t have the building materials downstream integration of Westlake (WLK), the analyst tells investors in a research note. The firm says Olin has a more specialty business, but peer values suggest it would be valued lower than chemicals. It believes signs of a basic chemical recovery are needed to “revive” the shares.
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