Courtesy of Benzinga.
Oppenheimer has published a research report on DuPont (NYSE: DD) after the company revised its full year 2011 guidance.
In the report, Oppenheimer writes, “Today, DuPont revised full-year 2011 EPS guidance to $3.87-$3.95, down about 2.5% from $3.97-$4.05, excluding significant items. The company attributes the 4Q slowdown to global economic uncertainty, which is contributing to conservative cash management and destocking in some supply chains. The weakness primarily affects Electronics & Communications and Performance Materials. The company saw acceleration in destocking across polymers and certain industrial supply chains, softening of consumer electronics demand, and continued weakness in housing and construction. We cut 4Q11E and ’11E EPS to the low end of the new guidance range, but leave ’12E unchanged at $3.90 , which is 10% below consensus.”
Oppenheimer maintains its Perform rating on DuPont, which is currently trading down $1.95 from yesterday’s $46.52 closing price.
For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.
