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Fly News Breaks for January 14, 2020
DD, IFF, CC
Jan 14, 2020 | 07:39 EDT
Gordon Haskett analyst John Inch initiated coverage of DuPont (DD) with a Buy rating and $71 price target. DuPont shares have underperformed but he believes a turn could be at hand as he thinks the N&B deal with IFF (IFF) unlocks significant value and still expects that DuPont can realize additional structural margin improvements across its portfolio. In terms of PFAS, Inch thinks the issue isn't likely to go away, but he believes Chemours (CC) "would have to effectively go bankrupt before DuPont would find itself significantly on the financial hook for material PFAS costs."
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