Evercore says Dow Inc. ‘on the brink of better,’ upgrades to Outperform

Evercore ISI analyst Eric Boyes upgraded Dow Inc. (DOW) to Outperform from In Line with a $56 price target as a new analyst took over coverage of the stock and 10 other chemical names. Double-digit 2025 EBITDA growth on outage add backs and capacity expansions “feels (relatively) safe,” with plausible upside to high teens growth on low-single digit volume growth, the analyst tells investors. The “soft” 2025 bridge provided at Q3 accelerated revisions, which are now already in the stock, while this month’s non-core sale allays dividend surety concern, the analyst tells investors.