June 13, 2012 at 14:00 PM EDT
Barclays Gets Cautious on U.S. Chemical Makers (DOW, DD)

Major chemicals maker The Dow Chemical Company (DOW) and DuPont (DD) caught some tepid commentary from analysts at Barclays Capital on Wednesday.

The firm commented, “Oil, China, and macro concerns conspiring to hit chemical earnings: Business conditions have deteriorated over the last 30-45 days according to our mid-quarter poll of numerous chemical companies, consultants, buyers and shippers of chemicals.”

Accordingly, Barclays lowered its earnings estimates for DOW through 2013. The analyst left its “Equalweight” rating and $36 price target (14% upside) unchanged.

The firm also maintained its “Equalweight” rating and $58 price target (17% upside) for DD, but cut its estimates through 2013.

The Bottom Line
Shares of Dow Chemical (DOW) have a 3.99% dividend yield, based on last night’s closing stock price of $32.11. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels. Shares of Dupont (DD) have a 3.45% dividend yield, based on last night’s closing stock price of $49.89. The stock has technical support in the $44-$46 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.

The Dow Chemical Company (DOW) and DuPont (DD) and both currently rated “Neutral” by Dividend.com.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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