Wells Fargo Starts DuPont (DD) at Market Perform; Enough Uncertainties To Merit Caution

Wells Fargo initiates coverage on DuPont (NYSE: DD) with a Market Perform. PT range of $48-$50.

Wells analyst says, "While we have been impressed with the results that management has been able to achieve, we believe there are other, more compelling investments in chemicals given DD’s valuation. Also, its key commodity, TiO2, is approaching a peak, and while the duration may be in question, the path after the peak is not. Throw in the Imprelis fiasco and the overall markets’ “nervous Nellie-ness,” and we would prefer to stay on the sidelines for now. We introduce our 2011E EPS at $4.00 and 2012E at $4.40."

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

Shares of DuPont closed at $44.28 yesterday.

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