Barclays Maintains an 'Equalweight' on Dow Chemical (DOW); Near-term Demand Sluggishness
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Price: $32.35 -1.67%
Rating Summary:
15 Buy, 14 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 14 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Dow Chemical (NYSE: DOW) price target of $33.00.
Barclays analyst says, "Highlights from our Dow meeting: 1) Current trends point to weakening end markets relative to expectations due to a combination of inventory drawdown and sluggish demand. These trends are likely to remain weak through year-end as inventories are managed at low levels. 2) Chinese demand is unlikely to improve before the Chinese New Year and Europe remains weak with chemical operating rates near 70%. 3) The electronic end market slowdown appears to be more prevalent than discussed during Dow's recent investor day. 4) It seems Dow is unlikely to benefit from the steep drop in propylene as weak downstream volumes and pricing pressure offset the reduction in feedstocks. 5) Ag will continue to be a bright spot as LatAm demand is strong and Dow's SmartStax should continue to drive N. Am. Growth for the foreseeable future."
"...Dow's stock has underperformed this year but we think Dow could be in for a nice run starting early next spring."
For an analyst ratings summary and ratings history on Dow Chemical click here. For more ratings news on Dow Chemical click here.
Shares of Dow Chemical closed at $27.71 yesterday.
Barclays analyst says, "Highlights from our Dow meeting: 1) Current trends point to weakening end markets relative to expectations due to a combination of inventory drawdown and sluggish demand. These trends are likely to remain weak through year-end as inventories are managed at low levels. 2) Chinese demand is unlikely to improve before the Chinese New Year and Europe remains weak with chemical operating rates near 70%. 3) The electronic end market slowdown appears to be more prevalent than discussed during Dow's recent investor day. 4) It seems Dow is unlikely to benefit from the steep drop in propylene as weak downstream volumes and pricing pressure offset the reduction in feedstocks. 5) Ag will continue to be a bright spot as LatAm demand is strong and Dow's SmartStax should continue to drive N. Am. Growth for the foreseeable future."
"...Dow's stock has underperformed this year but we think Dow could be in for a nice run starting early next spring."
For an analyst ratings summary and ratings history on Dow Chemical click here. For more ratings news on Dow Chemical click here.
Shares of Dow Chemical closed at $27.71 yesterday.
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