Dow Inc. price target lowered to $27 from $35 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Dow Inc. (DOW) to $27 from $35 and keeps an Equal Weight rating on the shares following yesterday’s results, outlook and dividend cut. The firm, which says its price target cut is largely a function of about a 25% decline in its 2025 EBITDA forecasts between the latest negative revision and the revision made just before the quarter, sees Dow remaining in “not just ‘show me’ mode but ‘show me any improvement is truly durable’ mode until there is a material change,” the analyst tells investors.