UPDATE: Citigroup Upgrades DuPont as Transformation Could Lead to Long-Term Value Creation
In a report published Friday, Citigroup analyst P.J. Juvekar upgraded the rating on DuPont (NYSE: DD) from Neutral to Buy, and raised the price target from $61.00 to $70.00.
In the report, Citigroup noted, “DD announced a formal separation of its Perf Chemicals business, which includes TiO2. This could unlock value at DD by creating two companies more focused on their core competencies and more nimble in decision making. Less emphasis on TiO2 would lead investors to focus on other parts of DD's portfolio, lead to greater transparency at the segment level, and likely drive more accountability at both companies. We have always said that DD's portfolio is like juggling 6 balls simultaneously – now DD mgmt will have fewer balls to juggle.”
DuPont closed on Thursday at $61.38.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.