Dahlman Rose Maintains Hold on Dow Chemical

Dahlman Rose is out with its report today on Dow Chemical DOW, maintaining Hold. In a note to clients, Dahlman Rose writes, "We have lowered our 2Q EPS and EBITDA estimate to $0.74 (prior $0.87) and $2.2 billion (prior $2.4 billion) to reflect lower volumes and near term margin compression. For 2011 and 2012, we have lowered our EPS estimate to $2.86 (prior $3.01) and $3.37 (prior $3.53), respectively. We are maintaining our Hold rating into the 2Q earnings release as we see current risk/reward relatively balanced and shares trade generally in line with peer multiples." Shares of DOW closed Friday at $36.38.