RBC Capital lowered the firm’s price target on Olin to $63 from $76 after the company’s Q2 EBITDA guidance cut, also reducing the firm’s FY23 EPS view to $4.81 from $6.10 and its FY24 view to $6.64 from $7.60. The firm maintains however that Olin’s restructuring activities and continued focus on value over volume should set the company up to take advantage of China’s eventual recovery, which is the key driver to its earnings upside. RBC also keeps an Outperform rating on the shares.
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Published first on TheFly
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