DuPont’s Estimates Cut at Morgan Stanley on Currency Concerns (DD)

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Science-based products and services company DuPont ( DD ) saw its earnings estimates cut on Friday by analysts at Morgan Stanley.

The firm said it lowered its estimates for DD through 2011, citing concerns surrounding the stronger dollar. Morgan maintained its "Equal-weight" rating and $40 price target on the stock, which had closed at $35.71 on Thursday.

DuPont shares fell 61 cents, or -1.7%, in premarket trading Friday.

The Bottom Line
We removed DuPont from our "recommended" list last Sept. 26, at a price of $42.61. The company currently has a dividend yield of 4.59%, based on last night's closing price of $35.71. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $38-$40 price levels. We would remain on the sidelines for now

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.

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