Will This Price Target Increase Help Dow Chemical (DOW) Stock Today?

Story updated at 9:55 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Barclays raised its price target for Dow Chemical (DOW) to $58 from $54 Thursday.

Dow Chemical fell -0.7% to $53.79 in morning trading.

The analyst firm reiterated its "equal weight" rating for the chemical company. Dow's pricing improved in all geographic regions according to Barclays analyst Duffy Fischer.

"After recording solid earnings, and maintaining bullish outlook commentary, the stock is now trading at a level that could lead to triggering the convert of the preferred shares," Fischer wrote. "The company maintains that converting these shares would be the most desirable outcome for shareholders as they are a more costly capital than regular shares. We think investors will view the conversion as positive as Dow will probably ramp up share buyback when the preferreds convert."

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.


Separately, TheStreet Ratings team rates DOW CHEMICAL as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate DOW CHEMICAL (DOW) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."

If you liked this article you might like

Why Bayer's $66 Billion Takeover of Monsanto Probably Won't Happen Until 2018

Cramer: The Market Is Back to the Late '80s, Early '90s

DowDupont Closes Higher in First Day of Trading, Company Still Faces Challenges

FMC Stock's Impressive Rally Has Another 20% to Gain: Jim Cramer

Jim Cramer on Why FMC Was Upgraded by Bank of America