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Dow Inc. Drops on Analyst Downgrade to Market Perform

M. Corey Goldman

fell more than 4% on Monday after receiving a downgrade from BMO Capital Markets analyst John McNulty to market perform from outperform. McNulty initiated coverage of the new Dow back in April with the outperform rating and a $64 target price. Dow, a highly diversified materials company that is an industry leader in plastics and ethylene, has told investors and analysts the new company's focus will be on cost-cutting, capital discipline and returning significant cash to shareholders, the analyst said at the time.