Mizuho Lowers Dow Stock Target to USD 32.00 Amid Demand Concerns

Mizuho has lowered its price target for Dow Inc. stock from USD 35.00 to USD 32.00, as reported on October 1, 2026. The firm maintained a Neutral rating, citing high exports of finished products from China as a factor pressuring demand in other regions. The revised target is still above Dow's USD 28.51 closing price on October 5, 2026, but the adjustment reduces the implied valuation cushion.

Investors are now focused on whether upcoming earnings can stabilize demand across Dow's packaging, infrastructure, and materials businesses. The company recently reported strong second-quarter results, with revenue of USD 12.10 billion and earnings per share of USD 1.44, beating estimates by USD 0.20 or 16.13%. This performance provides a stronger near-term reference than the target change alone.

Despite the positive earnings, Dow's stock remains well below its yearly high. As of October 6, 2026, the company had a market capitalization of USD 20.3 billion and a 52-week range of USD 20.65 to USD 42.74. The USD 28.51 closing price was 33.30% below the 52-week peak.

The next quarterly report is scheduled for October 22, 2026, with consensus revenue and earnings per share forecasts of USD 11.20 billion and USD 0.66, respectively. This upcoming report will test whether the second-quarter improvement can be sustained.