Specialty chemicals maker DuPont ( DD ) on Friday saw its coverage reinstated with a "Neutral" rating by analysts at Goldman Sachs.
The firm also set a $66 price target on DD shares, which suggests a solid 21% upside to the stock's Thursday closing price of $51.97.
Goldman noted the company's recent acquisition of food ingredients maker Danisco should help accelerate profitability for DD's biosciences businesses. The analyst also adjusted its 2011/2012/2013 estimates to from $3.86/$4.47/$4.81 per share to $3.75/$4.50/$5.00 per share, respectively.
DuPont shares were mostly flat in premarket trading Friday.
The Bottom Line
We have been recommending shares of Dupont ( DD ) since Apr.27, 2011, when the stock was trading at $55.06. The company has a 3.16% dividend yield, based on last night's closing stock price of $51.97.
DuPont ( DD ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.
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