DuPont’s Target, Estimates Boosted at Jefferies & Co. (DD)

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Diversified chemicals maker DuPont ( DD ) on Monday saw its price target and earnings estimates raised by analysts at Jefferies & Co.

The firm reiterated its "Buy" rating on DD and raised its price target by a dollar to $59. That new target implies a nearly 10% upside to the stock's Friday closing price of $53.87. Jefferies also lifted its full-year fiscal 2012 earnings estimate by 10 cents to $4.35 per share.

A Jefferies analyst commented, "We believe DuPont could raise its 2011E forecast for light vehicle production from 5% YoY to 7%-8% YoY, which we represent would represent a $0.01-$0.02 tailwind."

DuPont shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Dupont ( DD ) have a 3.04% dividend yield, based on Friday's closing stock price of $53.87. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $56 price level.

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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