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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...
Key Points We believe product prices lagged feedstock costs in Q3'25, we anticipate a weak Q3’25 earnings season We are meaningfully above Q3’25 and 2025 consensus for CC and MEOH We are meaningfully...