Goldman Sachs Gets Bearish on Chemicals Makers (EMN, DOW)
The firm cut its rating on EMN from “Neutral” to “Sell” with an $89 price target, suggesting a 6% upside to the stock’s Thursday closing price of $84.02. Goldman noted that chemicals industry demand would likely slow in the second half of 2011.
Meanwhile, the analyst downgraded DOW “Buy” to “Neutral” with a $32 price target (9% upside), also citing slowing demand in coming quarters.
Eastman Chemical shares fell 54 cents, or -0.6%, in premarket trading Friday, while Dow Chemicals shares were off 26 cents or -0.9%.
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By Dividend.com Staff Specialty chemicals makers Eastman Chemical Company (EMN) and The Dow Chemical Company (DOW) both caught big downgrades on Friday from analysts at Goldman Sachs. The firm cut its rating on EMN from “Neutral” to “Sell” with an $89
Dow Chemical Co. (DOW) spent a decade moving chemical production to the Middle East and Asia. Now it's leading the biggest expansion ever seen back home in the US as shale gas revives the industry's
'News of Dow Chemical Company being a major sponsor for the 2012 Olympic Games in London must by now have reached you,' the letter to Prime Minister Manmohan Singh reads. 'As it is the government of India's official position that the American
According to The Dow Chemical Company (NYSE: DOW), key to developing these solutions is building a robust global dialogue that offers public and private sectors the opportunity to collaborate around sustainable chemistry in new and innovative ways.
There is growing anger in India at the decision by Olympics authorities in London to select the Dow Chemical Company as 2012 Games sponsor. Campaigners say the company has links to the devastating Bhopal chemical disaster in
Dow Chemical Company to produce Olympic Stadium wrap | August ...
In keeping with LOCOG’s goal to stage a sustainable Games, it will be made of lightweight polyester fabric with a low-density polyethylene coating – requiring fewer raw materials to manufacture. It will also be up to 35 percent lighter and have a lower carbon footprint compared to conventional materials.
Installation of the wrap will be completed by spring 2012.
LOCOG Chair Sebastian Coe said: 'The stadium will look spectacular at Games time and having the wrap is the icing on the cake. I’m delighted that Dow, as one of the newer worldwide partners of the Olympic Movement, will be providing it and importantly doing it in a sustainable way. It reflects our vision and is a real statement of intent from Dow about their commitment to the Games.'
George Hamilton, vice president of Dow Olympic Operations, said: 'We’re providing this wrap as a sustainable solution for the Games and we look forward to celebrating its completion with Olympic fans around the world.'
As the official Chemistry Company of the Olympic Movement, Dow is partnered with the International Olympic Committee and National Olympic Committees around the world.
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