UPDATE: Morgan Stanley Initiates Equal-Weight, $56 Target on DuPont

Morgan Stanley initiates its coverage on DuPont (NYSE: DD) with an Equal-weight rating and a price target of $56 as company should see growth driven by inventory restock.

Morgan Stanley says, "We see risk/reward balanced at present. Strong Ag & Nutrition and resilient TiO2 provide flexibility in case 2H12 restocking in DD's “performance” segments is delayed. Recent signs of life in housing / construction could provide margin upside, but it is too early to make that call."

DD closed at $51.15 a share on Friday.