Barclays Maintains an 'Equalweight' on Dow Chemical (DOW); 'It Doesn't Look Like, Feel Like, Smell Like 2008'

Barclays maintains an 'Equalweight' on Dow Chemical (NYSE: DOW) price target of $34.00.

Barclays analyst says, "At Dow's Investor Day, senior executives explained their view of Dow's future growth trajectory, the macroeconomic environment and why Dow is better positioned now than during the last market downturn of 2008. If you liked Dow going into the investor day it's likely you would have heard things you liked; if you had a negative thesis on Dow, we think there was little new information that would have changed your mind.

"1) Maintaining Targets: Although tough economic conditions exist, Dow believes its recently transformed portfolio should meet its near-term $10B EBITDA, $3.50-$5.50 EPS target...2) Dow has seen demand growth slow over the last couple of months; however, it is not nearly as severe as the slowdown in 2008/'09...3) CEO Liveris stressed Dow's improved ability to weather a severe downturn should one occur."

For more ratings news on Dow Chemical click here and for the rating history of Dow Chemical click here.

Shares of Dow Chemical closed at $22.80 yesterday.

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