Jefferies & Co. reported on Wednesday that they have lowered estimates for chemicals company, E I Du Pont De Nemours And Co(DD).
The firm, which currently has a rating of “Hold” on DD, has reduced its price target to $48. This price target suggests a 6% increase from the stock’s current price of $45.10.
Analysts have reduced the company’s estimates due to a cautious outlook and movement within pension accounting.
DuPont shares were up $1.41, or 3.23% during premarket trading Wednesday. The stock is down -4.5% YTD.
The Bottom Line
Shares of DuPont (DD) have a 3.94% dividend yield, based on last night’s closing stock price of $43.69. The stock has technical support in the $39-$42 price area. If the shares can firm up, we see overhead resistance around the $46-$47 price levels.
E I Du Pont De Nemours And Co(DD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.