Olin price target raised to $69 from $63 at BofA

BofA analyst Steve Byrne raised the firm’s price target on Olin to $69 from $63 and keeps a Buy rating on the shares. While Olin’s Q4 EBITDA was short of the firm’s forecast on lower chlor-alkali earnings, the “highlight of the earnings release” was the company’s outlook that EBITDA will be higher in 2024 than 2023, something the firm previously saw as “a tall order,” the analyst tells investors. While trimming its Epoxy earnings forecast, the firm is “encouraged” that management does expect a meaningful rebound, albeit off recent EBITDA losses, this year, the analyst added.