Dow Inc. (DOW) PT Lowered to $20 at BMO Capital Amid Uncertain Macro

BMO Capital analyst John McNulty lowered the price target on Dow Inc. (NYSE: DOW) to $20.00 (from $22.00) while maintaining a Underperform rating.

The analyst commented: "DOW Continues Steps to Counter the Macro; Uncertain Earnings Base Keeps Us at UP; DOW management has taken increasingly severe actions to help balance the impact of the weak petchem macro and ongoing uncertainly around when things stabilize. To manage this "lower for longer" environment, the dividend has been cut in half, projects have been put on hold, assets divested, and other actions to shore up cash. We appreciate the actions taken; however, the uncertain macro backdrop, DOW's earnings trending under our conservative forecasts, and F26 consensus needing to come down hard, all keep us at Underperform. Reducing TP to $20."

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