Olin price target lowered to $21 from $24 at RBC Capital

RBC Capital lowered the firm’s price target on Olin (OLN) to $21 from $24 and keeps a Sector Perform rating on the shares after its Q4 earnings loss. The company’s lower Q1 EBITDA appears to be driven primarily by ongoing chlorine weakness throttling Caustic production, Winchester destocking/cost inflation, and Epoxy weakness, and the firm does not expect material q/q improvement in Q2 though caustic pricing and seasonal chlorine demand improvement could create some earnings upside in CAV, or Chlor Alkali and Vinyls, the analyst tells investors in a research note.