Dow stock set to snap record-tying win streak after a long-time bull joined Wall Street bandwagon of neutral analysts
Shares of Dow Inc. fell for the first time in 2023, putting them on track to snap their record-tying win streak, after Fermium analyst Frank Mitsch backed away from his rare, but long-time bullish call on the materials science company.
The stock DOW dropped 1.9% in afternoon trading, after soaring 16.5% over the past nine days. The win streak had tied the nine-day stretch that ended April 21, 2022, which tied the record nine-day streak that ended June 13, 2019. Meanwhile, his stock price target of $60 implied 4.2% upside from current levels, and was 14.5% above the average analyst price target of $52.41.
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