There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Dow Inc (DOW) and Freeport-McMoRan (FCX) with bullish sentiments.
Dow Inc (DOW)
In a report released yesterday, Laurence Alexander from Jefferies maintained a Buy rating on Dow Inc, with a price target of $75.00. The company’s shares closed last Thursday at $60.93.
According to TipRanks.com, Alexander is a 5-star analyst with an average return of 13.4% and a 67.8% success rate. Alexander covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Eastman Chemical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dow Inc with a $69.43 average price target, implying an 8.5% upside from current levels. In a report issued on April 14, Deutsche Bank also maintained a Buy rating on the stock.
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Jefferies analyst Chris LaFemina maintained a Buy rating on Freeport-McMoRan today and set a price target of $55.00. The company’s shares closed last Thursday at $34.74, close to its 52-week high of $39.10.
LaFemina has an average return of 28.8% when recommending Freeport-McMoRan.
According to TipRanks.com, LaFemina is ranked #1885 out of 7467 analysts.
Currently, the analyst consensus on Freeport-McMoRan is a Moderate Buy with an average price target of $39.73, implying a 13.6% upside from current levels. In a report issued on April 12, Deutsche Bank also maintained a Buy rating on the stock with a $36.00 price target.
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