Dow's Perfect Storm Sends Former Bull to Exits -- Market Talk

Dow Jones2025-04-15

1137 ET - Bank of America downgrades Dow to underperform from buy, saying the chemical company faces significant earnings headwinds from an economic slowdown and intensifying trade war that could put its rich dividend at risk. In a note, BofA says Dow faces a "perfect storm" of softening macro, emerging barriers to trade and higher U.S. feedstock costs, and the analysts slash their 2025 and 2026 Ebitda estimates by 17% and 23%, respectively. BofA also says Dow faces a significant free-cash-flow deficit in funding its $2 billion annual dividend, which currently offers a nearly 10% yield. BofA cuts its Dow price objective to $28 from $44. Dow down 2.2% to $28.24. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

April 15, 2025 11:37 ET (15:37 GMT)

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