UPDATE: Deutsche Bank Raises PT on DuPont Following Performance Chemicals Announcement

In a report published Wednesday, Deutsche Bank analyst David Begleiter reiterated a Buy rating on DuPont DD, and raised the price target from $62.00 to $67.00.

In the report, Deutsche Bank noted, “With the announcement that it is exploring strategic alternatives for Performance Chemicals (17% of ‘13E segment EBITDA), DuPont has far exceeded expectations with respect to the timing and scope of a TiO2 divestiture. While we expected TiO2 to be divested as it was not a business where DuPont's science could make reduce the cyclicality or accelerate the growth of the operations, we did not expect an announcement until late '13 at the earliest.”

DuPont closed on Tuesday at $57.12.