Now is the time to buy the dip in chemical company Dow Inc. , says JPMorgan.
"We think the recent downward movement in equity values has given investors an opportunity to purchase Dow shares at a reasonable valuation," analyst Jeffrey Zekauskas wrote in a Monday note.
Shares of Dow, which serves as a holding company for Dow Chemical and its subsidiaries, have lost 7.9% this month and 0.3% in 2023.
The analyst said Dow has underperformed chemical company LyondellBasell this year and over the past 12 months because of its dividend.
Dow's dividend is flat, while Lyondell's dividend has increased by 19% since February 2021, according to the note.
Persons:
Jeffrey Zekauskas, Zekauskas, Dow, — CNBC's Michael Bloom
Organizations:
Dow Inc, JPMorgan, Dow, Dow Chemical