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DOW · Analysis updated Nov 5, 2026, 4:48 PM ET
Why is Dow Inc. (DOW) stock moving?
Dow rallied from about $30 to a $34.85 intraday high on Oct 30. The move followed a Q3 beat on Oct 22. Net sales rose 13% to $11.3B, operating EPS was $0.71 against a $0.19 loss a year earlier, and free cash flow was $1.1B. Higher polyethylene prices and self-help savings drove the improvement, and several brokers raised price targets to $31-33. Most ratings remain Neutral or Hold, and the targets sit close to the current price. Management guided Q4 EBITDA flat at about $1.5B, which implies no further near-term earnings upside. Sales also fell about 7% from Q2. The stock has pulled back from $34.70 on Oct 30 to $32.70 on Nov 4. The Nov 4 drop of about 3.2% came on the heaviest volume in the window, 12.4M shares. That points to profit-taking after the rally. Sentiment is constructive on fundamentals, but limited upside to analyst targets and a cyclical pricing outlook weigh on it.
News behind the analysis
- Dow reports third quarter 2026 resultsNet sales rose 13% to $11.3B. Operating EPS was $0.71, against a $0.19 loss a year earlier. Free cash flow was $1.1B.
- Dow reports third quarter 2026 results (Investor Relations)Local price rose 14%, led by polyethylene. Operating EBIT was $887M, up $707M year over year.
- Dow Q3 2026 slides: transformation drives margin expansionOperating EBITDA was $1.55B, and all three segments improved their margins. The company says its transformation program is gaining momentum.
- Dow Q3 FY2026 earnings call transcriptManagement reaffirmed a flat sequential Q4 EBITDA outlook of about $1.5B. Polyethylene prices rebounded in the second half of the quarter.
- Dow Inc. Q3 earnings: constructive chemical pricing persists; shares fairly valuedMorningstar notes Q3 sales fell about 7% from Q2. About $250M of EBITDA uplift came from the Transform to Outperform program.
- Analyst moves after Q3: UBS PT to $33, RBC to $32, Citi to $32, BofA upgrade to NeutralSeveral brokers raised price targets after the earnings beat. Most ratings stay at Neutral or Hold.
- Dow Analysts Increase Their Forecasts Following Better-Than-Expected Q3 EarningsBenzinga reports that analysts lifted forecasts after the Q3 beat. Seeking Alpha pieces argue the Iran-related margin benefits can last.
- Dow declares quarterly dividend of 35 cents per shareThe dividend is payable Dec 11 to holders of record on Nov 30, 2026.
- Dow (DOW) latest headlines: stock climbs after Q3 earnings sharpen margin recoveryCoverage describes a margin recovery after the Q3 beat. Yahoo's feed shows the shares down 3.18% on its latest session.
- Dow Inc. analyst ratings snapshot (CNN)Recent ratings include a BofA upgrade, Barclays initiating at Underweight, and JPMorgan keeping a Buy.