Bank of America Securities Upgrades Dow Inc. (DOW) to Neutral on Rising Chemical Prices

• BofA upgraded Dow Inc. to Neutral, raising its price target to $31 from $29 • Upgrade cites rising chemical prices and expected sustained energy inflation • DOW's GF Score is 72/100; stock trades near $30.08, up 33% year-to-date Bank of America Securities upgraded Dow Inc. (NYSE: DOW) to Neutral from Underperform on October 19, 2026, citing rising chemical prices and expectations of sustained energy inflation. The price target rose to $31 from $29, implying about 3.6% upside from the current price near $30.08. Dow's Price-to-Sales ratio of 0.53 sits well below its historical median of roughly 0.8x, reflecting market skepticism about growth. P/E isn't meaningful given the company's current unprofitability (TTM EPS of -$1.82). GuruFocus' GF Value estimates intrinsic value at $38.84, suggesting the stock may be undervalued by about 22.6%, though this should be read cautiously given Dow's financial distress signals, including an Altman Z-Score of 1.5. Dow's GF Score of 72/100 reflects strength in valuation (8/10) and momentum (7/10) — the stock is up 33% year-to-date — but weakness in growth (3/10) and moderate financial strength (5/10). Among 11 premium gurus tracked by GuruFocus, 7 trimmed positions and 5 added in recent quarters, signaling mixed institutional sentiment. No notable insider buying or selling has occurred in the past 12 months. Overall, Dow's low valuation multiple reflects concerns about sustainable growth, and investors should weigh the GF Value's modest-undervaluation signal against ongoing profitability and balance-sheet risks, watching upcoming earnings and cash flow trends.