DuPont price target lowered to $84 from $103 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on DuPont to $84 from $103 after its Q1 earnings miss but keeps an Outperform rating on the shares. The quarterly results were still "relatively solid" given the well-understood difficulties in the Electronics end-markets, and while the company’s guide was pulled on delays on an Electronics recovery, it was largely as expected, the analyst tells investors in a research note. BMO remains positive on DuPont’s industry-leading platforms that have ties to secular themes, which should help the company grow at better-than-GDP rates with margins that exceed the majority of specialty chemical/industrial companies.