Jefferies Starts Dow Chemical (DOW) at Hold

Jefferies initiates coverage on Dow Chemical (NYSE: DOW) with a Hold and $27 price target.

The analyst comments, "Dow aims to be a better shepherd of capital and assets. The strategy is coherent, but implies choices the market will debate: a tough way to expand valuation multiples. With the ethylene peak still ahead, the market is offering a cyclical trade. We risk being too cute on timing, but we think there will be a better entry point within 6 months."

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 $23.74 yesterday.

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