DD - Contaminant Litigation Risks May Affect DuPont Valuation Analyst Downgrades Stock | Benzinga
Bank of America Securities analyst Steve Byrne downgraded the stock of DuPont de Nemours Inc (NYSE:DD) from Buy to Underperform and raised the price target from $78 to $80.
The analyst says the downgrade is based on relative valuation, modest earnings recovery in 2024, and under-appreciated Per- and Polyfluorinated Substances (PFAS) liabilities.
The analyst raised the full-year 2024 EPS estimate from $3.76 to $3.85 reflecting more recovery in Water & Protection from an improvement in U.S. housing starts, combined with modest gains in Electronics & Industrial.
The analyst views the $1.2 billion AFFF MDL settlement that DuPont/Chemours negotiated last ...