Wells Fargo Raises DOW Price Target to $40

Wells Fargo reiterated its Overweight rating on Dow Inc. NYSE:DOW on October 23, 2026, while lifting its price target on the chemical maker to $40.00 from $35.00. The update was shared in a research note published on the same day. The stock closed at $32.31 on the day of the announcement.

DOW Dow Inc.

$31.81 ▲ +35.53% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Wells Fargo's Call on Dow Inc.

In its October 23 research note, Wells Fargo maintained its upbeat stance on the company by keeping its Overweight rating intact. The firm also adjusted its price target upward to $40.00, moving past its previous target of $35.00. This forward-looking rating highlights the firm's positive view on the materials science provider's shares.

Other Institutional Activity in Dow Inc.

Other large financial firms have also adjusted their holdings in the chemical company. Two Sigma Investments, LP grew its holdings by 13,367,968 shares, ending with 17,873,366 shares worth about $577,577,797.0 through a 296.7% increase. AQR Capital Management, LLC grew its holdings by 5,381,310 shares, ending with 15,698,239 shares worth about $507,288,571.0 through a 52.2% increase. Pzena Investment Management LLC reduced its holdings by 6,440,135 shares, ending with 12,507,011 shares worth about $404,164,043.0 through a 34.0% decrease.

Dow Inc. Stock Up 4.7%

Dow Inc. shares recently traded around $31.81 on October 23, 2026, down about 1.5% from the event-day close of $32.31. The recent price sits above its 50-day moving average of $29.61 by 7.4%, but rests below its 200-day moving average of $32.40 by 1.8%. The stock trades 25.6% below its 52-week high of $42.74 and 52.0% above its 52-week low of $20.93. The recent price sits 20.5% below Wells Fargo's new target of $40.00.

Recent Earnings

For the trailing twelve months, Dow Inc. reported $42,612,998,144.0 in revenue and earnings of -$1.93 per share. The company posted a net profit margin of -2.1% and a return on equity of -3.2%, alongside a year-over-year revenue growth rate of 13.0%. The company has no meaningful forward P/E ratio because it is not currently profitable.

Dividend

Dow Inc. pays an annual dividend rate of $1.40 per share, which translates to a dividend yield of 4.4%. The company's dividend payout ratio stands at 700.0%.

Analysts Set New Price Targets

Wall Street firms have actively updated their views on the company alongside Wells Fargo. Mizuho maintained a Neutral rating with a price target of $32.00, down from $35.00, on October 1, 2026. Barclays initiated coverage with an Underweight rating and a $30.00 price target on October 13, 2026. B of A Securities upgraded the stock to Neutral and raised its target from $29.00 to $31.00 on October 19, 2026. RBC Capital maintained its Sector Perform rating and lifted its target to $32.00 from $29.00 on October 23, 2026. Across the broader analyst community, the stock holds a consensus hold recommendation with a mean price target of $33.76 derived from 17 analyst opinions.

About Dow Inc.

Headquartered in Midland, Michigan, Dow Inc. provides materials science solutions across packaging, infrastructure, mobility, and consumer applications. The company operates through segments including Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings, serving customers globally.

Bottom Line

Wells Fargo's revised target points to room for growth compared to where the shares currently change hands. Investors will continue tracking upcoming earnings reports and institutional filing updates to gauge how market participants respond to the company's financial performance.