UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Dow Chemical Co. on News of RMT with OLN

In a report published Monday, Credit Suisse analyst John P. McNulty reiterated an Outperform rating on

, and raised the price target from $51.00 to $53.00. In the report, Credit Suisse noted, "We believe DOW offers investors mid-teens potential upside over the next 12-18 months, given a number of positives including: 1) potential for significant cash returned to shareholders (more than we originally expected given the RMT for chlor-alkali, 2) reduced cyclicality/volatility following the chloralkali divestiture and 3) a number of projects/investments expected to start up over the next 2-3 years. With all of this and a reasonable valuation at 7X 2016 EBITDA, we are raising our PT to $53 and reiterate our Outperform rating." Dow Chemical Co. closed on Friday at $47.76.