UPDATE: Goldman Sachs Raises PT to $41 on Dow Chemical on Operational and Strategic Upside
Goldman Sachs reiterated its Buy rating on Dow Chemical (NYSE: DOW) and raised the price target from $36.00 to $41.00.
Goldman Sachs said, "In our opinion, despite a recent rally in the share price, investor perception on DOW remains anchored to several company-specific challenges in 2012 that are likely to abate in the coming year. Looking ahead, a combination of cost cuts, reduced downtime, and strategic expansions should easily deliver above-consensus EPS. In particular, a sizable recovery in its key ethylene-chain franchise should drive greater appreciation for DOW's shale-gas credentials and role as the global leader in ethylene production. Also, with a nearly 4% current yield, the stock offers an attractive income stream to reward investors as they await confirmation of a profit recovery."
Dow Chemical closed at $33.86 on Friday.
Latest Ratings for DOW
|Jan 2015||Gilford Securities||Upgrades||Sell||Neutral|
|Jan 2015||Piper Jaffray||Initiates Coverage on||Neutral|
|Dec 2014||Nomura||Initiates Coverage on||Buy|
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