Dow Inc. price target raised to $51 from $47 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the firm’s price target on Dow Inc. (DOW) to $51 from $47 and keeps an Outperform rating on the shares after its Q1 earnings beat. Polyethylene pricing has been driven by industry oversupply but the recent disruptions in the Middle East have shifted the story, the analyst tells investors in a research note. Strong export volumes are supplying an outlet for U.S. domestic supply, and higher pricing could drive domestic spot/contract pricing as well, the firm added.