As previously reported, BMO Capital Markets analyst John McNulty downgraded Dow Inc. to Market Perform from Outperform and lowered his price target for the shares to $52 from $58. The analyst says that while the company remains among the "diversified pure-play-commodity companies in the space" with focus on shareholder value and led by "solid" management, its 2019 is looking increasingly challenging due to persisting global trade issues and faltering macro growth. Given the weakness in Silicons, MDI/TDI, and PE markets, McNulty sees little recovery in the short term, reducing his FY19 and FY20 EPS outlook by 42c and 78c to $3.99 and $4.82 respectively.