Dow Inc

DOW: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$44.00	Kvpwvvz	Xkqyxfmnr

Dow: Our Top Pick Among Petrochemicals Producers; Cost Advantage Endures Despite Near-Term Headwinds

Katherine Olexa

Jun 1, 2023

We maintain our favorable long-term outlook for narrow-moat Dow as prospects for global petrochemicals demand remains robust over the next five years or so. Though near-term macroeconomic headwinds will contribute to an overall weak 2023 for the firm, we’re optimistic about recovering end market demand around year-end and beyond. With a solid long-term outlook, the firm’s shares offer material upside relative to our $72 per share fair value estimate.

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