January 04, 2013 at 09:18 AM EST
Jefferies Boosts Price Target, Estimates on Dow Chemical (DOW)

On Friday analysts at Jefferies increased its valuation and earnings expectations on The Dow Chemical Company (DOW) as falling feedstock prices should positively impact the chemical manufacturer.

Jefferies now sees shares of DOW reaching $34, a +2.6% upside to Thursday’s closing price of $33.15. The analysts maintain a “Hold” rating on Dow Chemical.

Dow Chemical shares were down slightly in premarket trading on Friday. The stock is up +15.26% over the past year.

The Bottom Line
Shares of Dow Chemical (DOW) have a 3.86% dividend yield, based on last night’s closing stock price of $33.15. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $35-$36 price levels.

The Dow Chemical Company (DOW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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