Olin price target lowered to $57 from $62 at KeyBanc

KeyBanc lowered the firm’s price target on Olin to $57 from $62 and keeps an Overweight rating on the shares. Commenting on the chemical space, the firm says its Q3 outlook mostly includes flat-to-down revisions, reflecting generally stagnant demand trends, and deceleration in the automotive end market. KeyBanc expects an uninspiring second half of 2024 from an earnings perspective, followed by slow recovery in the first half of 2025 and acceleration in the second half of the year.