Dupont upgraded by Bank of America
Dupont (NYSE:DD) received an upgrade from Bank of America (NYSE:BAC) from neutral to underperform, saying the fundamentals are getting better, which also resulted in the price target being raised from $36 to $40.
Specifically noted by Bank of America were the increase in the industrial business at the company, flexibility of its financing getting better, and the Pioneer seed line looks strong for the first half of 2010.
Bank of America pushed out earnings per share for the next three years, including 2010, looking for $2.30 to $2.35 in 2010; $2.40 to $2.55 in 2011; and $2.65 to $2.80 in 2012.
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