Urethane Blog
Analysts Getting Bullish on Chemical Stocks
April 12, 2023
Dow, chemical makers upgraded at Piper Sandler
Apr. 12, 2023 8:12 AM ETDow Inc. (DOW), EMN, LYB, WLK, CE, MEOH, ASIX, OLN, MX:CABy: Rob Williams NY, SA News Editor1 Comment
Dow (NYSE:DOW) and several other chemical makers late Tuesday were upgraded by analysts at Piper Sandler.
The U.S. chemical companies have a significant advantage over global rivals in setting the prices of their products because of lower costs of raw materials.
“These upgrades are not based on global economic recovery (which would only serve to amplify the outcome), but on shifting energy values and the ensuing supply adjustments that we see occurring,” Charles Nelvert, senior research analyst at Piper Sandler, said in the April 11 report. “We see a number of tailwinds developing that should create substantive benefits for chemical industry margins, primarily for North American production.”
| Piper Sandler ratings for chemical makers, April 11 | |||
| Current | Previous | ||
| Dow Inc. (DOW) | Overweight | Neutral | |
| Eastman Chemical Co. (NYSE:EMN) | Overweight | Neutral | |
| LyondellBasell Industries N.V. (NYSE:LYB) | Overweight | Neutral | |
| Westlake Corp. (NYSE:WLK) | Overweight | Neutral | |
| Celanese Corp. (NYSE:CE) | Neutral | Underweight | |
| Methanex Corp. (NASDAQ:MEOH) | Neutral | Underweight | |
| AdvanSix Inc. (NYSE:ASIX) | Overweight | – | |
| Olin Corp. (NYSE:OLN) | Overweight | – |
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