Olin Announces Third Quarter 2024 Results
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Goldman Sachs Reiterates Neutral Rating on Oiln (OLN)
October 28, 2024 6:04 AM EDTGoldman Sachs analyst Duffy Fischer reiterated a Neutral rating and $46.00 price target on Oiln (NYSE: OLN).
The analyst comments "OLN (Neutral) reported 2Q24 adjusted EBITDA of $160mn versus Bloomberg consensus of $183mn and $315mn in the prior-year period. 1) Hurricane Beryl's impact in Q3 was raised from a $100m to $110m hit ($77m in Chemicals and $33m in Epoxy). Though the plants are now up and running, OLN expects an additional $25m impact on Q4 in the Chemical segment. 2) The Q4 EBITDA guide of $170m to... More
Oiln (OLN) PT Lowered to $45 at Deutsche Bank
October 28, 2024 5:58 AM EDTDeutsche Bank analyst David Begleiter lowered the price target on Oiln (NYSE: OLN) to $45.00 (from $48.00) while maintaining a Hold rating.
The analyst comments "Notwithstanding the EBITDA miss, Olin's chemical businesses performed better-than-expected in the quarter, excluding the impact of Hurricane Beryl, on i) higher caustic prices supported by demand improvement in export markets and global supply constraints due to planned and unplanned outages and ii) slightly improved epoxy prices and margins. However, this was more than offset by a... More
