Dow Chemical Reports Strong 4Q, Citigroup Maintains Buy

Citigroup has published a research report on The Dow Chemical Company DOW after the company reported a solid operational beat in its 4Q. In the report, Citigroup writes "DOW reported 4Q EPS of $0.47, above our estimate of $0.33 and consensus of $0.35. Total EBITDA of $1.91B far exceeded our estimate of $1.69B in a solid operational beat. Performance Products, Basic Plastics, and Electronics drove the majority of the beat vs. our estimates. Total volume growth of 12% matches the 12% volume growth reported by DD last week. We think the market will react positively to DOW's 4Q results given that the beat was operational and not from below-the-line items." Citigroup maintains its Buy rating and $43 price target. The Dow Chemical Company closed yesterday at $36.64.