In a report released today, Vincent Andrews from Morgan Stanley maintained a Hold rating on DuPont de Nemours (DD – Research Report), with a price target of $80.00.
Vincent Andrews’s rating is based on a combination of factors including the reduction in DuPont’s price target from $94 to $80, which reflects lower peer multiples, especially in the electronics sector, and the incorporation of some indirect macroeconomic and tariff risks. Despite solid first-quarter results for 2025 and manageable direct tariff impacts, the uncertainty surrounding macroeconomic conditions and tariffs makes it challenging for the market to fully endorse the company’s guidance until more concrete evidence is available.
Additionally, the upcoming spin-off of DuPont’s Electronics Co. on November 1 is a significant event, but current macroeconomic uncertainties may delay investor enthusiasm until closer to the spin-off date. The recent decline in multiples for electronics-focused companies like Entegris and ESI has also contributed to investor hesitancy. Furthermore, unresolved PFAS liabilities add another layer of uncertainty, although they are currently seen as manageable unless personal injury cases escalate. These factors collectively justify the Hold rating as investors await more clarity on these issues.
In another report released today, Bank of America Securities also reiterated a Hold rating on the stock with a $78.00 price target.