Olin upgraded to Buy at BofA on attractive valuation, profit growth potential

As previously reported, BofA upgraded Olin (OLN) to Buy from Neutral with a price target of $40, down from $48. The valuation is now “highly attractive,” argues the analyst, who highlights that Olin has “the best free cash flow yield in our commodity coverage” as well as a belief that the company is relatively well-insulated from the potential risks of the incoming Trump administration given its more limited exposure to China and its significant U.S. operations. The firm also believes EBITDA has troughed in 2024 and should move “meaningfully higher” in 2025.