Olin price target lowered to $69 from $73 at KeyBanc

KeyBanc analyst Aleksey Yefremov lowered the firm’s price target on Olin to $69 from $73 and keeps an Overweight rating on the shares. Olin acknowledged that an improvement in both chlor-alkali pricing and volumes is required to achieve the $1.3B EBITDA mark for this year, and while demand is believed to be moving in the right direction, the pace of recovery is slower than initially expected, the analyst says. The firm expects management to reduce guidance to the $1.1B-$1.2B range.