DowDuPont: Jefferies maintains 'buy' rating
(CercleFinance.com) - Jefferies has maintained its "buy" rating and its price target of 85 dollars for DowDuPont, the chemical company formed through the merger between Dow Chemical and DuPont.
In a note to clients, the broker says the shares are trading in line with where one would expect them to trade "simply based on how the macro environment has evolved in recent months".
"Little credit appears to be given for the synergies (...), and no allowance for other structural improvements (...)", Jefferies writes in a report.
This valuation underscores the degree to which the market has embraced that a peak has now been reached, according to Jefferies.
Shares in DowDuPont are currently up 0.8% at 65 dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the broker says the shares are trading in line with where one would expect them to trade "simply based on how the macro environment has evolved in recent months".
"Little credit appears to be given for the synergies (...), and no allowance for other structural improvements (...)", Jefferies writes in a report.
This valuation underscores the degree to which the market has embraced that a peak has now been reached, according to Jefferies.
Shares in DowDuPont are currently up 0.8% at 65 dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.