Dow Inc. price target raised to $39 from $28 at Jefferies

Jefferies raised the firm’s price target on Dow Inc. (DOW) to $39 from $28 and keeps a Hold rating on the shares. While the duration of Gulf Coast supply disruptions remains unclear, the “most likely base case” is steeper petrochemical cost curves coupled with manageable demand headwinds, the analyst tells investors. The firm believes the “close to the cracker” trade means petrochemicals trade more on mid-cycle rather than “trough risk” scenarios, the analyst added.