Jefferies Reiterates Hold Rating on Dow Chemical

According to Jefferies, Dow Chemical (NYSE: DOW) Hold rating is reiterated.

Jefferies said that given deteriorating trends in ECU margins, likely still-weak ethylene margins into Q1, and potential headwinds to Electronics results in Q4/Q1, it is lowering Q4E EPS $0.05 to $0.25 and Q1E $0.05 to $0.58. “With more cautious anecdotal commentary on the electronics outlook from other companies due to year-end destocking, we have tempered our expectations for Dow's Electronics business, particularly for Q4.”

Dow Chemical closed yesterday at $28.05.