UPDATE: Wolfe Research Downgrades Dow Inc. (DOW) to Underperform

(Updated - October 18, 2021 7:11 AM EDT)

Wolfe Research analyst Josh Silverstein downgraded Dow Inc. (NYSE: DOW) from Peerperform to Underperform with a price target of $55.00.

The analyst comments "We’re downgrading DOW to Underperform as we’re most cautious on the PetChem complex, are now 6% below 2022 Street EBITDA, and our new PT implies 7% downside. Our cautious PetChem view stems from our bullish natural gas, ethane, and propane outlook, which combined with PE prices flatlining and ethylene prices retrenching from early year gains, suggest margins are getting squeezed and this price environment could last for the next 6+ months. Additionally, while DOW has previously used feedstock flexibility to its advantage, with both ethane and propane prices high, operational flexibility has been reduced."

For an analyst ratings summary and ratings history on Dow Inc. click here. For more ratings news on Dow Inc. click here.

Shares of Dow Inc. closed at $58.96 yesterday.

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