Olin price target lowered to $46 from $50 at Wells Fargo

Wells Fargo lowered the firm’s price target on Olin to $46 from $50 and keeps an Equal Weight rating on the shares. The firm believes multiple expansion is limited given an uncertain macro environment, low run rate for EBITDA during Q4 2023 and Q1 2024 due to operating rates at about 50% and the uncertainty related to its CEO transition.