UPDATE: Bank of America Downgrades Dupont on to Near-Term Challanges

In a report published on Friday, Bank of America analyst Kevin W. McCarthy downgraded Dupont DD from Buy to Neutral and maintained a $56 price target on the company.

In the report, Bank of America commented that, "Our downgrade to Neutral from Buy reflects our view of diminished near-term risk- reward prospects with limited upside to our price objective of $56 and lack of a positive catalyst. DD shares have outperformed peers handily year-to-date, but new challenges have emerged in Ag in recent weeks. Meanwhile, a back-end loaded earnings pattern among industrial product lines will require acceleration of macroeconomic growth in order to achieve."

Dupont closed on Thursday at $53.88