Jefferies Downgrades DuPont (DD) to Hold

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Jefferies downgraded DuPont (NYSE: DD) from Buy to Hold with a price target of $55.00 (from $62.00).

The firm comments, "To better reflect a weaker EU demand outlook and incremental deterioration in TiO2 dynamics (price increases stalling earlier than expected), we are lowering 2012E $0.10 to $4.25 and 2013E $0.20 to $4.60. Multiple expansion appears less likely as capital will likely flow to other recovery plays."

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 $50.57 yesterday, with a 52 week range of $37.10-$57.50.

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