Olin price target lowered to $64 from $70 at Barclays

Barclays analyst Michael Leithead lowered the firm’s price target on Olin to $64 from $70 and keeps an Overweight rating on the shares. Demand “remains tepid” for U.S. chemicals into the Q2 prints and hopes for a second half of the year recovery “have dimmed,” the analyst tells investors in a research note. While demand “seems to be at trough,” the firm does not think earnings revisions “are quite there yet.” Barclays is not in the camp to “buy the last cut” and continues to pick its spots, with tactical caution across the space into earnings.