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Deutsche Bank Raises PT on DuPont to $57, Maintains Buy


Deutsche Bank maintains its Buy rating on DuPont (NYSE: DD) and raises its price target by $2 to $57 as the company is well positioned to deliver 7% EPS growth in 2012.

Deutsche Bank says, "DuPont's posted Q4 earnings in-line with its December preannouncement and reiterated its '12 EPS guidance with the midpoint ($4.30) $0.03 above consensus. Despite early '12 headwinds (FX, weak consumer electronics demand, solar inventory correction), with Pioneer's order book ahead of last year's rapid pace, TiO2 supply/demand likely to tighten by mid-year, demand in Asia recovering and industrial markets poised to accelerate in 2H, we believe DuPont is on track to deliver 7% EPS growth in '12. With valuation a fair 11.8x '12E EPS, reiterate Buy."

DD closed at $49.41 a share on Tuesday.

Posted-In: Deutsche BankAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings


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