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Fly News Breaks for January 8, 2016
DD
Jan 8, 2016 | 06:54 EDT
Bernstein analyst Jonas Oxgaard upgraded DuPoint (DD) to Outperform and increased his price target to $81 from $71 on shares. Oxgaard said while the merger synergies with Dow Chemical (DOW) are likely underwhelming, they are still accretive and cumulative with current cost cutting programs at both companies, and combined with continuing ethylene shortages, and the potential for management to change course towards a value-creating final structure, he sees significant upside in both stocks.
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