UPDATE: Wells Fargo Upgrades Dow Chemical

In an note released Tuesday, Wells Fargo Securities upgraded

from Market Perform to Outperform and raised its price target range from $48-52 to $54-56. Wells Fargo analysts recently held a meeting with senior leaders of Dow Chemical and came away seeing top management's enthusiasm "increasingly credible." The Wells Fargo team believes this enthusiasm is supported by "greater operational versatility, a market-driven approach to margin enhancement, and numerous catalysts to drive the bottom line." For 2015 the team sees significant benefits from PDH and Sadara and has raised the EPS estimate from $3.20 to $3.50. Possibly reacting to this upgrade, shares of Dow Chemical were up almost one percent to $49.77 at last check.