Oppenheimer Maintains a 'Perform' on DuPont (DD); Selling its Performance Coatings business
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Price: $55.89 +0.72%
Rating Summary:
7 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade DD Now!
Oppenheimer maintains a 'Perform' on DuPont (NYSE: DD).
Analyst, Edward Yang, said, "DuPont announced today that it has reached a definitive agreement to sell its Performance Coatings business to the Carlyle Group (NYSE: CG) for $5.15B ($4.9B in cash, plus $250MM of assumed unfunded pension liabilities). This transaction further shifts the mix toward "higher growth segments," with sales in Ag & Nutrition, Electronics, and Safety & Protection expected at of over 60% on a continuing operations basis vs. about 40% in 2007. DD has turned over close to $100B in acquisitions and divestitures in the last 15 years and this has been one of reasons for the stock's sideways performance during that period. On our revised 2013E EPS, which excludes Performance Coatings, DD is trading at 11.3x P/E."
FY12 revenues lowered to $7.31B from $7.51B and FY13 to $7.62B from $8.06B.
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 $49.58 yesterday, with a 52 week range of $37.10-$57.50.
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Analyst, Edward Yang, said, "DuPont announced today that it has reached a definitive agreement to sell its Performance Coatings business to the Carlyle Group (NYSE: CG) for $5.15B ($4.9B in cash, plus $250MM of assumed unfunded pension liabilities). This transaction further shifts the mix toward "higher growth segments," with sales in Ag & Nutrition, Electronics, and Safety & Protection expected at of over 60% on a continuing operations basis vs. about 40% in 2007. DD has turned over close to $100B in acquisitions and divestitures in the last 15 years and this has been one of reasons for the stock's sideways performance during that period. On our revised 2013E EPS, which excludes Performance Coatings, DD is trading at 11.3x P/E."
FY12 revenues lowered to $7.31B from $7.51B and FY13 to $7.62B from $8.06B.
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 $49.58 yesterday, with a 52 week range of $37.10-$57.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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