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DuPont Upgraded to “Buy” at Goldman Sachs (DD)

By Dividend.com,  November 19, 2010, 08:50:35 AM EDT

Chemicals maker DuPont ( DD ) on Friday caught a big upgrade from analysts at Goldman Sachs.

The firm boosted its rating on DD from "Neutral" to "Buy" and raised its price target from $52 to $56. That new target implies a 20% upside to the stock's Thursday closing price of $46.53.

Goldman also raised its 2011 earnings estimates from $3.35 to $3.60 per share, and 2012 from $3.51 to $4.05 per share, citing confidence in the sustainability of its earnings recovery.

DuPont shares rose 64 cents, or +1.4%, in premarket trading Friday.

The Bottom Line
Shares of Dupont ( DD ) have a 3.52% dividend yield, based on last night's closing stock price of $46.53. The stock has technical support in the $42 price area. If the shares can firm up, we see overhead resistance around the $50-$52 price levels.

DuPont ( DD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: DD



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