RPM price target lowered to $85 from $92 at Wells Fargo

Wells Fargo analyst Michael Sison lowered the firm’s price target on RPM to $85 from $92 and keeps an Equal Weight rating on the shares. RPM reported that its customers are holding lower levels of inventory than normal as a result of weak consumer takeaway at retail and in preparation for the spring season, the analyst tells investors in a research note. The firm reduced estimates saying the company’s volume trends remain challenging.