Showing posts with label Dow Chemical. Show all posts
Showing posts with label Dow Chemical. Show all posts

Wednesday, February 22, 2012

Yingli (YGE) (YHOO) (DELL) (DOW) (FTR) (GILD) (GMLP) (GPC) (HGSI) Ratings, Price Targets

Yingli Green Energy Hold. Co. Ltd. (YGE), Yahoo! Inc. (YHOO), Dell Inc. (DELL), The Dow Chemical Company (DOW), Frontier Communications (FTR), Gilead Sciences, Inc. (GILD), LNG Partners (GMLP), Genuine Parts Company (GPC) and Human Genome Sciences (HGSI) had ratings and price targets on them adjusted by analysts.

Yingli Green Energy Hold. Co. Ltd. (YGE) was downgraded by Miller Tabak from a "Neutral" rating to a "Sell" rating.

Yahoo! Inc. (YHOO) was downgraded by Credit Agricole from a "Buy" rating to an "Underperform" rating.

Dell Inc. (DELL) was downgraded by Citigroup (C) from a "Buy" rating to a "Neutral" rating.

The Dow Chemical Company (DOW) was downgraded by Gilford Securities from a "Hold" rating to a "Sell" rating.

Frontier Communications (FTR) was downgraded by Hudson Securities from a "Buy" rating to a "Hold" rating.

Gilead Sciences, Inc. (GILD) was downgraded by Sanford C. Bernstein from an "Outperform" rating to a "Market Perform" rating.

Golar LNG Partners (GMLP) was downgraded by Citigroup from a "Buy" rating to a "Neutral" rating.

Genuine Parts Company (GPC) was downgraded by Gabelli from a "Buy" rating to a "Hold" rating.

Human Genome Sciences (HGSI) was downgraded by RBC Capital from an "Outperform" rating to a "Sector Perform" rating. They placed a price target of $10.00 on the company, down from $15.00.

Monday, February 6, 2012

Wynn (WYNN) (DOW) (GILD) (ANF) (MCHP) (NSR) Ratings, Price Targets

Wynn Resorts, Limited (NASDAQ: WYNN), The Dow Chemical Company (NYSE: DOW), Gilead Sciences, Inc. (NASDAQ: GILD), Abercrombie & Fitch (NYSE: ANF), Microchip Technology Inc. (NASDAQ: MCHP) and Neustar, Inc (NYSE: NSR) had ratings and price targets on them adjusted by analysts.

The Dow Chemical Company (DOW) had its “Hold” rating reiterated by Jefferies Group (NYSE:JEF).

Gilead Sciences, Inc. (GILD) had its “Buy” rating reiterated by Deutsche Bank (NYSE:DB).

Abercrombie & Fitch (ANF) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $48.00.

Microchip Technology Inc. (MCHP) had its price target raised by Stifel Nicolaus from $41.00 to $42.00. They have a “Buy” rating on the company.

Neustar, Inc (NSR) had its price target raised by Wedbush to $47.00.

Wynn Resorts, Limited (WYNN) had its price target lowered by Telsey Advisory Group from $149.00 to $130.00.

Thursday, November 17, 2011

FEI (FEIC) (COV) (CXDC) (DOW) (EPD) (EXXI) (FOSL) Ratings, Price Targets

FEI (FEIC), Covidien plc (COV), China XD Plastics (CXDC), The Dow Chemical Company (DOW), Enterprise Products Partners (EPD), Energy XXI (EXXI) and Fossil (FOSL) ratings and price targets updates from analysts.

Goldman Sachs (NYSE:GS) reiterated its “Buy” rating on Covidien plc (COV).

Oppenheimer reiterated its “Outperform” rating on China XD Plastics (CXDC). They have a price target of $7.00 on the company.

Morgan Stanley (NYSE:MS) initiated coverage on The Dow Chemical Company (DOW). They placed an “Equal Weight” rating and a price target of $35.00 on the company.

Oppenheimer reiterated its “Outperform” rating on Enterprise Products Partners (EPD). They have a price target of $47.00 on the company.

Rodman & Renshaw reiterated its “Outperform” on Energy XXI (EXXI). They have a price target of $35.00 on the company.

Needham & Company raised its price target on FEI (FEIC) from $43.00 to $47.00. They have a “Buy” rating on the company.

Piper Jaffray (NYSE:PJC) reiterated its “Overweight” rating on Fossil (FOSL).

Wednesday, November 16, 2011

Devon (DVN) (ONNN) (DOW) (ORLY) (OXY) (DISCA) EPS Changes

Devon Energy Co. (NYSE: DVN), ON Semiconductor (NASDAQ: ONNN), The Dow Chemical Company (NYSE: DOW), O’Reilly Automotive, Inc. (NASDAQ: ORLY), Occidental Petroleum Co. (NYSE: OXY) and Discovery (NASDAQ: DISCA) had their EPS estimates adjusted by analysts.

Devon Energy Co. (DVN) had its EPS estimates raised by UBS AG (NYSE:UBS). They have a “Buy” rating and a price target of $85.00 on the company.

ON Semiconductor (ONNN) had its EPS estimates cut by Credit Suisse (NYSE:CS). They have a “Neutral” rating and a price target of $8.50 on the company.

The Dow Chemical Company (DOW) had its EPS estimates cut by UBS AG. They have a “Buy” rating and a price target of $38.00 on the company.

O’Reilly Automotive, Inc. (ORLY) had its EPS estimates raised by Credit Suisse. They have an “Outperform” rating and a price target of $76.00 on the company.

Occidental Petroleum Co. (OXY) had its EPS estimates raised by Jefferies (NYSE:JEF). They have an “Outperform” rating and a price target of $125.00 on the company.

Discovery (DISCA) had its EPS estimates raised by UBS AG. They have a “Neutral” rating and a price target of $43.00 on the company.

Wednesday, September 14, 2011

Inergy (NRGY) (DOW) (QRE) (FITB) (PNG) (HMA) Upgraded

Inergy (NASDAQ: NRGY), The Dow Chemical Company (NYSE: DOW), QR Energy LP (NYSE: QRE), Fifth Third Bancorp (NASDAQ: FITB), PAA Natural Gas Storage (NYSE: PNG) and Health Management Associates (NYSE: HMA) upgraded by analysts.

Inergy (NRGY) was upgraded by UBS AG (NYSE:UBS) from a “Neutral” rating to a “Buy” rating.

The Dow Chemical Company (DOW) was upgraded by Credit Agricole to an “Outperform” rating.

QR Energy LP (QRE) was upgraded by Robert W. Baird from a “Neutral” rating to an “Outperform” rating.

Fifth Third Bancorp (FITB) was upgraded by RBC Capital from a “Sector Perform” rating to an “Outperform” rating. They have a price target $15.00 on the company.

PAA Natural Gas Storage (PNG) was upgraded by UBS AG from a “Neutral” rating to a “Buy” rating.

Health Management Associates (HMA) was upgraded by Oppenheimer from a “Perform” rating to an “Outperform” rating. They have a price target $11.00 on the company.

Thursday, September 1, 2011

PPG (PPG) (VAL) (APD) (DOW) (EMN) (PX) (SHW) (CE) Get New Coverage

Celanese Co. (NYSE: CE), PPG (NYSE: PPG), The Valspar Co. (NYSE: VAL), Air Products & Chemicals, Inc. (NYSE: APD), The Dow Chemical Company (NYSE: DOW), Eastman Chemical Co (NYSE: EMN), Praxair, Inc. (NYSE: PX) and The Sherwin Williams Co (NYSE: SHW) getting new coverage from analysts.

Barclays Capital initiated coverage on Air Products & Chemicals, Inc. (APD). They have an "Overweight" rating and a price target of $97.00 on the company.

Barclays Capital initiated coverage on Celanese Co. (CE). They have an "Overweight" rating and a price target of $49.00 on the company.

Barclays Capital initiated coverage on Dow Chemical Company (DOW). They have an "Equal Weight" rating and a price target of $34.00 on the company.

Barclays Capital initiated coverage on Eastman Chemical Co. (EMN). They have an "Equal Weight" rating and a price target of $92.00 on the company.

Barclays Capital initiated coverage on PPG (PPG). They have an "Equal Weight" rating and a price target of $85.00 on the company.

Barclays Capital initiated coverage on Praxair, Inc. (PX). They have an "Equal Weight" rating and a price target of $105.00 on the company.

Barclays Capital initiated coverage on the Sherwin Williams Co. (SHW). They have an "Equal Weight" rating and a price target of $81.00 on the company.

Barclays Capital initiated coverage on the Valspar Co. (VAL). They have an "Equal Weight" rating and a price target of $35.00 on the company.

Eastman (EMN) (DOW) (PPG) (PX) (VAL) (SHW) (SXC) (CHKM) (FRAN) Getting New Coverage

Eastman Chemical (NYSE:EMN), Dow Chemical (NYSE:DOW), PPG Industries Inc. (NYSE:PPG), Praxair Inc. (NYSE:PX), The Valspar Corp. (NYSE:VAL), Sherwin-Williams Co. (NYSE:SHW), SunCoke Energy Inc. (NYSE:SXC), Chesapeake Midstream Partners, L.P. (NYSE:CHKM) and Francesca's Holdings Corp. (NASDAQ:FRAN) getting new coverage from analysts.

Barclays Capital initiated coverage on Eastman Chemical (EMN). They have an "Equal Weight" rating and a price target of $92 on the company.

Barclays Capital initiated coverage on Dow Chemical (DOW). They have an "Equal Weight" rating and a price target of $34 on the company.

Barclays Capital initiated coverage on PPG Industries Inc. (PPG). They have an "Equal Weight" rating and a price target of $85 on the company.

RBC Capital Markets initiated coverage on Francesca's Holdings Corp. (FRAN). They have an "Outperform" rating and a price target of $30 on the company.

Barclays Capital initiated coverage on Praxair Inc. (PX). They have an "Equal Weight" rating and a price target of $105 on the company.

Capital Markets initiated coverage on Chesapeake Midstream Partners, L.P. (CHKM). They have an "Outperform" rating and a price target of $32 on the company.

Barclays Capital initiated coverage on The Valspar Corp. (VAL). They have an "Equal Weight" rating and a price target of $35 on the company.

Barclays Capital initiated coverage on Sherwin-Williams Co. (SHW). They have an "Equal Weight" rating and a price target of $81 on the company.

Barclays Capital initiated coverage on SunCoke Energy Inc. (SXC). They have an "Overweight" rating and a price target of $20 on the company.

Monday, August 15, 2011

DragonWave (DRWI) (DOW) (CNQR) (DV) (HOT) (HST) (IL) (LYB) Downgraded

DragonWave Inc. (NASDAQ: DRWI), The Dow Chemical Company (NYSE: DOW), Concur Technologies, Inc. (NASDAQ: CNQR), DeVry Inc. (NYSE: DV), Starwood Hotels (NYSE: HOT), Host Hotels & Resorts, Inc. (NYSE: HST), IntraLinks Holdings, Inc. (NYSE: IL) and LyondellBasell (NYSE: LYB) downgraded by analysts.

Concur Technologies, Inc. (CNQR) was downgraded by RBC Capital from an “Outperform” rating to an “Underperform” rating. They have a price target of $30.00 on the company, down from $54.00.

The Dow Chemical Company (DOW) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating.

DragonWave Inc. (DRWI) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $3.50 on the company, down from $9.50.

DeVry Inc. (DV) was downgraded by Robert W. Baird from an “Outperform” rating to a “Neutral” rating. They have a price target of $53.00 on the company, down from $71.00.

Starwood Hotels (HOT) was downgraded by Jefferies from a “Buy” rating to a “Hold” rating. They have a price target of $42.00 on the company, down from $68.00.

Host Hotels & Resorts, Inc. (HST) was downgraded by Jefferies from a “Buy” rating to a “Jold” rating.

IntraLinks Holdings, Inc. (IL) was downgraded by Credit Suisse (NYSE:CS) to a “Neutral” rating.

LyondellBasell (LYB) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.

Friday, July 29, 2011

Amdocs (DOX) (DOW) (EQIX) (GLW) (IACI) (LRCX) (LSI) Price Targets Changed

The Dow Chemical Company (NYSE: DOW), Amdocs Limited (NYSE: DOX), Equinix, Inc. (NASDAQ: EQIX), Corning Inc. (NYSE: GLW), InterActiveCorp (NASDAQ: IACI), Lam Research Co. (NASDAQ: LRCX) and LSI Co. (NYSE: LSI) price targets adjusted by analysts.

The Dow Chemical Company (DOW) had its price target lowered by Deutsche Bank (NYSE:DB) from $44.00 to $38.00. They have a “Hold” rating on the company.

Amdocs Limited (DOX) had its price target raised by UBS AG (NYSE:UBS) from $33.00 to $35.00. They have a “Buy” rating on the company.

Equinix, Inc. (EQIX) had its price target raised by Stifel Nicolaus from $120.00 to $130.00. They have a “Buy” rating on the company.

Corning Inc. (GLW) had its price target lowered by Citigroup (NYSE:C) to $18.00. They have a “Hold” rating on the company.

InterActiveCorp (IACI) had its price target raised by Oppenheimer to $53.00.

Lam Research Co. (LRCX) had its price target cut by Stifel Nicolaus from $64.00 to $60.00. They have a “Buy” rating on the company.

LSI Co. (LSI) had its price target raised by Barclays Capital to $8.00. They have an “Equal Weight” rating on the company.

Hess (HES) (DOW) (PFCB) (QEP) (TEVA) (DOX) EPS Estimates Changed

Hess Corp. (NYSE: HES), The Dow Chemical Company (NYSE: DOW), P.F. Chang’s China Bistro (NASDAQ: PFCB), QEP Resources (NYSE: QEP), Teva Pharmaceutical Industries Ltd (NASDAQ: TEVA) and Amdocs Limited (NYSE: DOX) EPS estimates adjusted.

UBS AG (NYSE:UBS) cut its EPS estimates on Hess Corp. (HES). They have a “Buy” rating and a price target of $90.00 on the company.

UBS AG boosted its EPS estimates on The Dow Chemical Company (DOW). The y have a “Buy” rating and a price target of $46.50 on the company.

Credit Suisse (NYSE:CS) lowered its EPS estimates on P.F. Chang’s China Bistro (PFCB). They have a “Neutral” rating and a price target of $34.00 on the company.

Goldman Sachs (NYSE:GS) raised its EPS estimates on QEP Resources (QEP). They have a “Neutral” rating and a price target of $49.00 on the company.

UBS AG raised its EPS estimates on Teva Pharmaceutical Industries Ltd (TEVA). They have a “Buy” rating and a price target of $64.00 on the company.

Citigroup (NYSE:C) raised its EPS estimates on Amdocs Limited (DOX). They have a “Buy” rating and a price target of $37.00 on the company.

Tuesday, July 12, 2011

Ratings on Dow (DOW) (HNR) (TRI) (WR) (ECPG) Reiterated by Analysts

The Dow Chemical Company (NYSE: DOW), Harvest Natural Resources, Inc. (NYSE: HNR), Thomson Reuters Co. (NYSE: TRI), Westar Energy, Inc. (NYSE: WR) and Encore Capital Group, Inc. (NASDAQ: ECPG) had their ratings reiterated by analysts.

Dahlman Rose reiterated a “hold” rating on The Dow Chemical Company (DOW).

Pritchard reiterated a “buy” rating on Harvest Natural Resources, Inc. (HNR). They have a price target of $25.00 on the company.

Morgan Stanley (NYSE:MS) reiterated an “equal weight” rating on Thomson Reuters Co. (TRI).

Citigroup (NYSE:C) reiterated a “buy” rating on Westar Energy, Inc. (WR).

Piper Jaffray (NYSE:PJC) reiterated an “overweight” rating on Encore Capital Group, Inc. (ECPG). They have a price target of $38.00 on the company.

The Dow Chemical Company closed Monday at $35.08, falling $1.31, or 3.59 percent. Harvest Natural Resources closed at $11.47, down $0.77, or 6.29 percent. Thomson Reuters ended the day at $36.44, dropping $0.58, or 1.57 percent. Westar Energy closed at $26.81, declining $0.26, or 0.96 percent. Encore Capital closed at $28.39, gaining $1.86, or 7.01 percent.

Monday, May 16, 2011

Fertilizers (DOW) (IPI) (TNH) (AGU) Pressured on Weak Crop Prices

Dow Chemical (NYSE:DOW), Intrepid Potash (NYSE:IPI), Terra Nitrogen Company, L.P. (NYSE:TNH) and Agrium (NYSE:AGU) traded down Friday, with the exception of Agrium, as a down week for major crops pressured the sector.

Corn and wheat finished down last week while soybeans were almost unchanged. A bearish USDA report weighed on the grains. Eventually the weather, flooding of the Mississippi and lack of activity in the fields will probably push up the prices of grains in the weeks ahead.

Corn futures for July-delivery climbed 6.5 cents, or 1 percent, to $6.87 a bushel on the Chicago Board of Trade. The price was down a little last week after dropping by the limit of 30 cents on May 11 when a U.S. report saidinventories will be largger than analysts estimated.

Wheat for July delivery gained 8.5 cents, or 1.2 percent, to $7.44 a bushel in Chicago. The contract fell 2 percent last week, the third straight week of losses, after the government projected stockpiles in 2012 to be higher than expected.

Soybeans for July delivery rose 9 cents, or 0.7 percent, to $13.5175 a bushel in Chicago after gaining 0.8 percent Thursday. The oilseed was up slightly on the aguweek, gaining 1.9 percent.

Agrium (AGU) closed Friday at $80.43, gaining $1.31, or 1.53 percent.

Thursday, May 5, 2011

Ratings on (DOW) (GG) (HES) (ICE) (LAMR) Upgraded by Analysts

Analysts upgraded ratings on The Dow Chemical Company (NYSE: DOW), Goldcorp Inc. (NYSE: GG), Hess Corp (NYSE: HES), IntercontinentalExchange (NYSE: ICE) and Lamar Advertising Company (NASDAQ: LAMR) today.

Argus upgraded The Dow Chemical Company (DOW) from a “hold” rating to a “buy” rating. They have a price target of $49.00 on the company.

HSBC (NYSE:HBC) upgraded Goldcorp Inc. (GG) from an “underweight” rating to a “neutral” rating.

Argus upgraded Hess Corp (HES) from a “hold” rating to a “buy” rating. They have a price target of $95.00 on the company.

Macquarie upgraded IntercontinentalExchange (ICE) from a “neutral” rating to an “outperform” rating.

Caris & Company upgraded Lamar Advertising Company (LAMR) from an “above average” rating to a “buy” rating.

Monday, May 2, 2011

Dividend Yields for (BMS) (MWV) (DD) (DOW) (APD)

Indicated dividend yields for Standard & Poor's 500 Index companies Bemis Co Inc (BMS), MeadWestvaco Corp (MWV), EI du Pont de Nemours & Co (DD), Dow Chemical Co (DOW) and Air Products & Chemicals (APD).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Bemis Co Inc (BMS) has a dividend yield of 3.06 percent on a declared dividend of $0.24. The payout ratio is 51.1 percent.

MeadWestvaco Corp (MWV) has a dividend yield of 2.97 percent on a declared dividend of $0.25. The payout ratio is 60.8 percent.

EI du Pont de Nemours & Co (DD) has a dividend yield of 2.89 percent on a declared dividend of $0.41. The payout ratio is 26.6 percent.

Dow Chemical Co (DOW) has a dividend yield of 2.44 percent on a declared dividend of $0.25. The payout ratio is 27.3 percent.

Air Products & Chemicals Inc (APD) has a dividend yield of 2.43 percent on a declared dividend of $0.58. The payout ratio is 40.4 percent.

Monsanto (MON) (CF) (DOW) (IPI) Driven up by Wheat, Corn Profits

Wheat and corn prices continue to drive the profits of farmers up, resulting in capex from them toward companies like Monsanto (NYSE:MON), CF Industries (NYSE:CF), Dow Chemical (NYSE:DOW) and Intrepid Potash (NYSE:IPI) Driven up by wheat, Corn Profits.

How quickly the griping from farmers has subsided since the worst of the recession when they were complaining about high input costs.

The U.S. will control 28 percent of global wheat exports in 2011, an increase from 18 percent in 2010, according to the U.S. Department of Agriculture. With prices averaging about $8 a bushel this quarter and the next, the highest levels in three years, farms will earn approximately $94.7 billion, according to analysts’ forecasts compiled by Bloomberg and an estimate from the USDA.

Other considerations for investors to consider is how this will impact shipping. Expectations are shipping lines won't benefit much from the increase in production because the U.S. is replacing lost supply from Russia and Ukraine.

Domestically it could help those companies shipping within borders, as it could offer some major boosts in that regard.

Friday, April 29, 2011

Upgrades for (DISCA) DOW) (EXXI) (FRME) (GWW) Ratings

Analysts upgraded Discovery (NASDAQ: DISCA), The Dow Chemical Company (NYSE: DOW), Energy XXI (NASDAQ: EXXI), First Merchants Co. (NASDAQ: FRME) and W.W. Grainger, Inc. (NYSE: GWW) today.

Barrington Research upgraded Discovery (DISCA) to an “outperform” rating.

JPMorgan Chase & Co. (NYSE:JPM) upgraded The Dow Chemical Company (NYSE: DOW) from a “neutral” rating to an “overweight” rating.

Global Hunter Securities upgraded Energy XXI (EXXI) from an “accumulate” rating to a “buy” rating. They have a price target of $44.00 on the company, up previously from $36.00.

Stifel Nicolaus upgraded First Merchants Co. (FRME) from a “hold” rating to a “buy” rating. They have a price target of $11.00 on the company.

Bank of America (NYSE:BAC) upgraded W.W. Grainger, Inc. (GWW) from an “underperform” rating to a “neutral” rating. They now have a price target of $138.00 on the company, down from $170.00.

Wednesday, March 2, 2011

Dow (DOW) Seeking Patent to Kill Monsanto (MON) Super Weeds

Dow Chemical ((NYSE:DOW) announced via its agricultural unit that it has taken the next step toward securing global patent rights for its new strain of genetically engineered corn that it asserts will aid farmers in their fight against a new strain of "super-weeds," which in most cases comes from Monsanto's (NYSE:MON) Roundup herbicide, which they are building a tolerance to.

According to Dow, they have published its patent application with the World Intellectual Property Organization. That the first step companies must take in order to secure international patent rights.

Assuming it's successful in its endeavor, Dow will eventually be able to sell the corn seed around the world.

Dow AgroSciences LLC said Tuesday its new corn plants are resistant to Dow's "2,4-D" herbicides. That means farmers could spray them with a chemical that will also kill Roundup resistant weeds.

First commercial use for the seeds are expected to be in 2012 or 2013.

Dow closed Tuesday at $36.14, dropping $1.02, or 2.74 percent.

Tuesday, March 1, 2011

Dow (DOW) CEO Steps Down from Citi (C) Board

Citigroup (NYSE:C) was told by Dow Chemical (NYSE:DOW) CEO Andrew Liveris that he would not stand for re-election to its board of directors, according to a regulatory filing.

Liveris let Chairman Dick Parsons on February 25 that he wouldn't be standing for re-election again at the annual meeting of the giant bank on April 21.

No reason was given as to the why Liveris, who is also on the board of IBM (NYSE:IBM), is not seeking to remain on the board.

Liveris has been on the board of Citigroup since September 20, 2005.

Monday, December 20, 2010

Monsanto (NYSE:MON), Dow (NYSE:DOW) Get Competition from DuPont (NYSE:DD), Syngenta (NYSE:SYT) on SmartStax

DuPont (NYSE:DD) has licensed Syngenta's (NYSE:SYT) corn rootworm trait MIR604 in order to compete more effectively against Monsanto (NYSE:MON) and Dow Chemical (NYSE:DOW) and SmartStax.

Pioneer Hi-Bred, which is wholly-owned by DuPont, will market and sell the seed for them.

By combining Syngenta's corn rootworm trait MIR604 with Acremax XTRA, Dupont's Pioneer should be able to compete against SmartStax, as it would offer above ground and below ground action.

That should allow Pioneer to win regulatory approval for 5% integrated refuge product, which would provide the type of convenience that is offered by SmartStax.

Pioneer is working toward having the hybrids on the market for 2012-2013.

With it being vital for DuPont to have a product that can compete against SmartStax, they're going to have to pay a hefty price to get it via the licensing agreement with Syngenta, which says may end up being more than $400 million via cumulative payments.

Eventually Dupont may choose to use its own proprietary trait to replace MIR604, but that wouldn't happen for several years if they choose to go that route.

DuPont closed Friday at $49.86, up $0.41, or 0.83 percent. Dow closed at $33.94, down $0.40, or 1.16 percent. Monsanto closed at $64.60, gaining $1.60, or 2.54 percent. Syngenta closed at $56.99, down $0.39, or 0.68 percent.

Friday, December 3, 2010

Dow Chemical (NYSE:DOW) Increasing Capacity of Ethylene Crackers

Goldman Sachs (NYSE:GS) says they're raising their price target on Dow Chemical (NYSE:DOW), citing increasing their existing ethylene crackers to crack more ethane, moving them away from propane.

They estimate this will increase ethane consumption over the next two to three years from a range of 20 percent to 30 percent.

Goldman said investors need to know these things about the change:

"1) this is NOT an expansion of DOW’s ethylene capacity; 2) DOW could save $225mn/year ($0.15/share) by shifting to ethane; 3) DOW’s move signals mgmt’s confidence in the sustainability of North America’s feedstock advantage; 4) a 35k barrels/day increase in ethane demand (est. impact from DOW’s move) 3 years from now is manageable; 5) a JV between DOW and a midstream company to build additional fractionation capacity could come online in time to feed DOW’s needs."

Goldman maintains their "Neutral" rating on Dow, which was trading at $33.07, falling by $0.17, or 0.51 percent as of 11:50 AM EST. Dow raised their price target on them from $34 to $36.