It’s a bullish day on Wall Street, with major U.S. large-cap indices reaching record highs, driven by broad-based rallies in tech-related stocks as investors continue to embrace the AI trade.
Bank of America Securities analyst Steve Byrne downgrades DuPont de Nemours Inc (NYSE: DD) stock from Buy to Underperform, raising the price target from $78 to $80. Citing concerns over DuPont's modest earnings recovery in 2024, undervalued PFAS liabilities, and the $1.2 billion AFFF MDL settlement, Byrne highlights potential risks from PFAS news flow and personal injury litigation, despite increased EPS estimates due to improvements in U.S. housing starts.
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DuPont de Nemours Inc (NYSE: DD) is reportedly in advance talks with The Jordan Company to sell its chemical assets, Delrin resins unit, for around $1.8 billion.