Credit Suisse analyst Matthew Skowronski double upgraded Dow Inc. to Outperform from Underperform with a $68 price target after assuming coverage of the name. The analyst expects 2023 to be a "trough year" for earnings, as the pricing and margin headwind from new capacity in several derivatives dissipates. The firm remains concerned that demand may surprise to the downside in 2023, but believes the stock’s risk/reward of higher demand for several of Dow’s commodities is skewed favorably in 2024.
Published first on TheFly
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