UPDATE: Mizuho Securities Starts DuPont (DD) at Buy
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(Updated - October 12, 2021 4:18 PM EDT)
Mizuho Securities analyst Christopher Parkinson initiates coverage on DuPont (NYSE: DD) with a Buy rating and a price target of $94.00.
The analyst commented, "We initiate coverage of DD with a Buy rating and $94 price target. Even post the Reverse Morris Trust of Nutrition & Biosciences and divestitures of non-core product lines, DD maintains exposure to the largest array of end-use markets across our coverage, rendering it a specialty materials and technology bellwether. 3Q21 could be noisy given broad-based raw material inflation, transportation and logistics reliability / availability, and a weakening near-term outlook for auto due to semiconductor shortages. Achievement of 3Q guidance communicated in early August is now a Herculean task due to factors outside of DD’s control. This does not detract from our stance that shares are undervalued, but we acknowledge potential for short term volatility."
Shares of DuPont closed at $69.76 yesterday.
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