BMO Capital upgraded DuPont to Outperform from Market Perform with a price target of $96, up from $83, after the company announced plans to separate into three companies in a tax-free separation, including “Electronics Co,” “Water Co” and “New DuPont.” The move, which the firm says “was largely unexpected,” is a value-creating event that, along with the expected improvement in the core business, should help shares outperform, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DD:
- DuPont (DD) Stock Gaining on 3-Way Split
- DuPont Announces Plan to Separate into Three Independent, Publicly Traded Companies
- Early notable gainers among liquid option names on May 17th
- Robinhood upgraded, Baidu downgraded: Wall Street’s top analyst calls
- DuPont upgraded to Buy from Hold at Jefferies