Soleil Securities Raises Price Target & Estimates on DuPont (DD), Smashes Streets Estimates

Soleil Securities is reiterating its Buy rating on shares of DuPont (NYSE: DD) as it is once again raising its price target on the company, this time from $65 to $70.

The company reported its Q1 results with an EPS of $1.52 and sales of $10 billion which topped the Street's estimates of $1.36 and $9.29 billion. The firm reports that TiO2 pricing and better results across the board drove the upside.

DD increased its FY11 EPS guidance by $0.15 to $3.75 on continued strong sales across the board and continued pricing flexibility in TiO2. As a result the firm is raising its FY11 and FY12 EPS estimates to $3.90 and $4.65 as its believes that the guidance will prove to be conservative.

For more ratings news on DuPont click here and for the rating history of DuPont click here.

Shares of DuPont closed at $55.91 yesterday.

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