Truist initiated coverage of Olin (OLN) with a Hold rating and $38 price target The firm believes optimizing the company’s asset footprint, cost structure, and operating rates will be a multiyear process. This stage justifies a valuation multiple at a discount to peers and Olin’s historical average, the analyst tells investors in a research note. However Truist expects improving cash conversion and views Olin’s “shareholder-friendly” capital allocation framework as a positive.
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Read More on OLN:
- Olin Announces VP Damian Gumpel’s Resignation
- Olin to acquire small caliber ammunition manufacturing assets from AMMO for $75M
- AMMO to sell ammunition manufacturing assets to Olin Winchester for $75M
- Olin price target lowered to $45 from $48 at RBC Capital
- Olin upgraded to Buy at BofA on attractive valuation, profit growth potential
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