The Fly

Dow Inc. price target lowered to $65 from $69 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on Dow Inc. to $65 from $69 and keeps a Market Perform rating on the shares. The company’s Q4 earnings miss highlights its short-term challenges amid poor macro, end markets and consumer spending conditions, the analyst tells investors in a research note. The firm adds that the next 12 months may be challenging for Dow Inc. and warns that its 2023 forecasts could have downside if the expected macro recovery, particularly in China, doesn’t materialize.

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