RBC would be buyers amid today’s DuPont selloff

RBC Capital analyst Arun Viswanathan lowered the firm’s price target on DuPont (DD) to $75 from $85 and keeps an Outperform rating on the shares after the company provided preliminary Q4 EBITDA about 5% below previous guidance and Q1 EBITDA about 19% below the Street view due to continued destocking in Industrial, weak demand in China, and a write-down in its Water/Protective segments. The firm, which believes DuPont remains well positioned to benefit from a turnaround in China and Industrial markets, would be buyers on today’s 13% selloff as DuPont sees stabilization within Semiconductor Technologies and faces easy comps in the second half. The firm adds that it also expects weaker results from other names levered to Industrial and China, including Dow Inc. (DOW), Huntsman (HUN), Celanese (CE), Eastman Chemical (EMN) and Sealed Air (SEE).