Dow Chemical upgraded to "buy"

01/10/08 - Hilliard Lyons

NEW YORK, January 10 (newratings.com) - Analysts at Hilliard Lyons upgrade The Dow Chemical Company (DOW) from "neutral" to "buy." The 12-month target price is set to $45.

In a research note published this morning, the analysts mention that the company has announced plans to establish a world class plastics joint venture with a firm based in Kuwait. The transaction, which is expected to be completed by end-2008, is likely to yield significant value and result in reduced volatility in Dow Chemical’s share price, the analysts say. Recent price hikes and global volume growth are expected to have driven the company’s 2007 results, Hilliard Lyons adds.