Jefferies Trims Estimates, Ups Price Target on DuPont (DD)

Jefferies trimmed estimates on DuPont (NYSE: DD) but bumped its price target from $52 to $56. The firm maintained a Hold rating.

Analyst Laurence Alexander notes, "Following DuPont's Q2 preannouncement, we are lowering 2013E EPS $0.10 to $3.80, 2014E $0.05 to $4.35 and 2015E $0.05 to $4.75. To better reflect the recent expansion in market multiples, we are raising our 12-month price target $4 to $56, 7.5x 2014E EBITDA. With only modest upside, however, we retain our Hold rating."

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 $53.88 yesterday.

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