Bernstein Starts Dow Inc. (DOW) at Outperform

Bernstein analyst Jonas Oxgaard initiates coverage on upcoming spin-off Dow Inc. (NYSE: DOW) with a Outperform rating and a price target of $74.00.

• tightening ethylene markets will yield an upcycle in 2020
• Tactically, they see a compelling entry point in mid- to late-April, as they expect the stock to sell off immediately after the spin before it moves up

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