Jefferies Lifts Price Targert on DuPont (DD) After Good Q1

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Jefferies boosted its price target on DuPont (NYSE: DD) from $57 to $62 while reiterating its Buy rating following Q1 results.

The firm comments, "Excluding a $0.04 charge, Q1 EPS of $1.61 was $0.06 above consensus and $0.04 above our forecast. Volumes were down 2% YoY in Q1 after a 10% YoY decline in Q4 but should inflect to positive territory by Q3. DuPont reaffirmed its $4.20-$4.40 EPS outlook for the year."

The firm raised FY12 EPS from $4.20 to$4.35.

For an analyst ratings summary and ratings history on DuPont click here. For more ratings news on DuPont click here.

Shares of DuPont closed at $52.61 yesterday, with a 52 week range of $37.10-$57.50.

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