Goldman Sachs Bumps Price Target Higher on Dow Chemical (DOW), But Lowers Estimates

Goldman Sachs raised its price target on Dow Chemical (NYSE: DOW) from $38 to $40, but lowered their EPS estimates after Q4 results. The firm is keeping their Neutral rating.

The firm noted operating earnings were roughly in line, while Q2012 outlook commentary was weaker than expected. The firm lowered 2012E EPS to $2.71 from $2.96.

Risk/reward is balanced at current valuation, with medium-term benefits from structurally lower ethane prices offsets near-term macro/Europe headwinds.

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 $34.18 yesterday.

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