DuPont shares rise after Citi raises its price target to $170, citing strong Q2 earnings potential and electronics division spinoff benefits.
DuPont de Nemours (NYSE:DD) has gained attention from billionaire investor Jeffrey Talpins, with shares up 53% over the past year and 14% year-to-date. Citi recently raised its price target to $170 from $68, maintaining a Buy rating ahead of the company’s second-quarter earnings report.
In May, DuPont reported first-quarter net sales of $1.7 billion and adjusted earnings per share of $0.55, surpassing analyst estimates of $1.687 billion and $0.48. The results drove shares 8.4% higher on May 5. RBC Capital also adjusted its target, cutting it to $48 in November before raising it to $51 in January, keeping an Outperform rating.
The electronics division spinoff has been highlighted as a potential growth driver, with analysts noting its long-term benefits for the company’s valuation.