The firm raised second quarter earnings estimates to $0.85 from $0.80 per share, up 13% from same period last year, and upped 2015 earnings estimates to $3.15 per share from $3, 1% above last year, according to the analyst note.
"We continue to prefer shares of Dow as a way to gain exposure to the U.S. ethylene cycle given its robust pipeline of large project startups," Deutsche Bank analysts said.
Additionally, the firm reiterated a "buy" rating with a price target of $60 on Dow, Deutsche Bank noted.
Dow Chemical, based in Midland, MI, is a global manufacturer and supplier of products used primarily as raw materials in the manufacture of customer products and services.
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 increase in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and growth in earnings per share. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."