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DOW - Dow Inc News Story

$63.14 -0.1  -0.1%

Last Trade - 09/04/21

Basic Materials
Large Cap
Market Cap £34.33bn
Enterprise Value £43.50bn
Revenue £28.12bn
Position in Universe 263rd / 6827

BUZZ-Dow Inc: Wells Fargo sees potential upside to earnings in 2021

Tue 2nd March, 2021 1:00pm
** Wells Fargo upgrades U.S. chemicals maker  DOW.N  to
"overweight" from "equal weight"; raises PT to Street high of
$77 from $60, implying 25% upside to stock's last close
    ** Says strong demand and the impact on supply from winter
storm Uri would drive upside to co's earnings in 2021 and
better-than-expected margins
    ** Says higher chemical margins driven by tighter supply and
demand post Uri, along with co's $300 mln restructuring program,
will boost co's 2021 earnings
    ** "We believe DOW offers attractive exposure to commodity
chemicals which should perform well in early parts of a
recovery" - Brokerage
    ** Wells Fargo expects positive impact on chemical prices
due to storm; also raises its 2021 EPS estimate and sees EBITDA
improving with better margins
    ** Of 24 brokerages covering DOW, 7 rate it "buy" or higher,
15 "hold" and 2 "sell" or lower; their median PT is $58 -
Refinitiv Eikon data
    ** Up to last close, stock up ~11% YTD

 (Reporting By Geetha Panchaksharam)
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