Chemicals maker E.I. du Pont de Nemours & Company ( DD ), commonly known as DuPont, on Thursday saw its price target cut by analysts at Credit Suisse.
The firm said it now expects DD shares to reach $50, suggesting a smaller 16% upside to the stock's Wednesday closing price of $43.22.
Credit Suisse maintained its "Neutral" rating on the stock, but noted the company faces near-term growth headwinds amid the tenuous macroeconomic environment.
DuPont shares, which have fallen 13% year-to-date, rose 48 cents, or +1.1%, in premarket trading Thursday.
The Bottom Line
Shares of DuPont ( DD ) have a 3.79% dividend yield, based on last night's closing stock price of $43.22. The stock has technical support in the $39-$44 price area. If the shares can firm up, we see overhead resistance around the $48 price level.
E.I. du Pont de Nemours & Company ( DD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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