BMO Capital analyst John McNulty lowered the firm’s price target on DuPont (DD) to $50 from $104 and keeps an Outperform rating on the shares. Following the spin-off of Qnity, DuPont appears to provide investors a solid diversified industrial/mats company with a relatively steady 3%-4% top-line growth outlook over the next few years, which along with margin improvement should yield organic EPS CAGR near 10%, the analyst tells investors in a research note. With the pending sale of Kevlar/Nomex and an already clean balance sheet, DuPont has the added appeal of significant financial flexibility to further lean the portfolio toward Water and HealthCare and drive sizable near-term buyback support, the firm added.
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