Olin upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Olin to Overweight from Neutral with an unchanged price target of $55. Olin’s efforts to stabilize chlorine and caustic prices in the U.S. by running at low rates of capacity utilization from Q4 of 2023 through Q1 of 2024 have been generally successful, the analyst tells investors in a research note. The firm thinks the cash generation characteristics of Olin are likely to justify a higher share price. It expects Olin is likely to generate a free cash flow yield based on the current share price of 8% in 2024, 11% in 2025, and 15% in 2026.