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Key Points Periods of extreme MDI demand weakness, similar to the last three years, typically followed by strong demand rebounds MDI cycle could normalize as early as 2026/2027 with significant earnings and...
Key Points We’re increasing our target price on shares of HXL and reiterating our Overweight rating post yesterday’s 3Q25 earnings release. Our target price rises USD10 to USD90 as we’ve raised...
Key Points Q3’25 EPS and EBITDA beat and Q4’25 guidance above consensus Near-term commentary somewhat positive driven by industry capacity rationalization and positive global trade developments We rate Dow Inc. shares Neutral with...
Key Points U.S. natural gas and NGL oversupply should persist limiting ethane price upside despite higher ethane exports Normalization of frac spread would erode ethylene margins by 2.5c/lb., at most We rate our...
Key Points We’re raising our forecast for BA following yesterday’s release of 3Q25 commercial orders and deliveries data, though we’re lowering our target price on a reduced valuation and higher 2026...