Chemicals maker The Dow Chemical Company ( DOW ) on Thursday saw its price target and earnings estimates upped by analysts at Morgan Stanley.
The firm said it now expects DOW shares to reach $48, which suggests a 31% upside to the stock's Wednesday closing price of $36.62.
Morgan Stanley also maintained its "Overweight" rating and boosted its earnings estimates for the company, citing expectations for continued margin expansion.
Dow Chemical shares rose 38 cents or +1%, in premarket trading Thursday.
The Bottom Line
Shares of Dow Chemical ( DOW ) have a 1.64% dividend yield, based on last night's closing stock price of $36.62. The stock has technical support in the $32-$34 price area. If the shares can firm up, we see overhead resistance around the $39-$40 price levels.
The Dow Chemical Company ( DOW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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