Dow Inc. price target raised to $26 from $24 at BofA

BofA analyst Matthew DeYoe raised the firm’s price target on Dow Inc. (DOW) to $26 from $24 and keeps a Neutral rating on the shares. Q3 EBITDA of $868M beat the Street’s lowered forecast and were ahead of the initial Q3 guidance of about $800M as cost cut traction surprised, the analyst tells investors. Q$ guidance at $725M, ahead of the Street’s $680M forecast, implies a better polyethylene margin outlook “than we are ready to subscribe to,” the analyst added.