Olin price target raised to $64 from $58 at RBC Capital

RBC Capital raised the firm’s price target on Olin to $64 from $58 and keeps an Outperform rating on the shares. The firm is boosting its assumed EBITDA multiple to 7.5-times on expectation that Olin’s market leadership should allow them to capture incremental volume with strong operating leverage to demand recovery from current trough earnings, the analyst tells investors in a research note. RBC further cites Olin maintaining a strong free cash flow profile, allowing for about $500M in annual buybacks.