- The shares of Dow Inc. (NYSE: DOW) have received a $55 price target from Wolfe Research. These are the details.
The shares of Dow Inc. (NYSE: DOW) have received a $55 price target from Wolfe Research. And Wolfe Research analyst Josh Silverstein downgraded Dow to “Underperform” from “Peer Perform.”
This downgrade reflects Silverstein’s cautious petrochemical view, which stems from a bullish natural gas, ethanol, and propane outlook. And with polyethylene prices flatlining and ethylene prices retrenching from early-year gains, Dow’s margins have been getting squeezed and this price environment could last for the next 6 months.
While Dow previously used feedstock flexibility to its advantage with both ethane and propane prices high, the company’s operational flexibility has been reduced according to Silverstein.
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