Oppenheimer Maintains Perform on DuPont

Oppenheimer is out with its report today on DuPont DD, maintaining Perform. In its report, Oppenheimer writes, "DuPont was sober, but cautiously optimistic, in our recent meeting, acknowledging the dour macro headlines, but not seeing much confirmation yet in its own business. This is consistent with other companies. As we wrote last week, we believe recession is upon us, so trim our EPS for DD to $3.99 in 2011E and $4.24 in 2012E, the latter 9% below consensus. Positively, we were impressed by how carefully and systematically DD is monitoring and internally preparing against a repeat of the last recession, which should temper the impact from the economy." At the time of posting, shares of DD were trading at $45.06, down 0.88% from Thursday's close.