Dow Inc. downgraded to In Line from Outperform at Evercore ISI

Evercore ISI downgraded Dow Inc. (DOW) to In Line from Outperform with a price target of $32, down from $56. While the company’s dividend cut provides flexibility, Dow provided a “lackluster” outlook and has lack of visibility on a recovery, the analyst tells investors in a research note. The firm sees a “lower-for-longer backdrop” and sees a lack of catalysts in the near-term to suggest an improvement in fundamentals.