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DuPont, Corteva still wait-and-see stocks, RBC analyst says

Jun. 20, 2019 3:59 PM ETDuPont de Nemours, Inc. (DD) Stock, CTVA StockDD, CTVABy: Carl Surran, SA News Editor3 Comments
  • DuPont (DD +2.9%) and Corteva (CTVA +0.5%) are initiated with Sector Perform ratings with respective $80 and $29 price targets at RBC Capital, where Arun Viswanathan is still undecided on the stocks' outlook.
  • "New DuPont asks investors to take a leap of faith in valuing the company with multi-industry peers [such as 3M, Honeywell and Illinois Tool Works]," Viswanathan writes, adding that DD is better compared with other specialty chemical companies, such as FMC or Albemarle.
  • For CTVA, "Given the market expectation of a weak 2019 for agriculture chemical producers due to planting delays from wet weather, we are taking a slightly conservative approach to 2019 results and the stock," Viswanathan says.
  • DD's average Sell Side Rating is Outperform and its Seeking Alpha Authors' Rating is Bullish, but its Quant Rating is Bearish; CTVA's average Sell Side Rating is Outperform and its Seeking Alpha Authors' Rating is Neutral.

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