Du Pont ( DD) is currently the world's second largest chemical company in terms of market capitalization and the fourth in revenue. Du Pont describes itself as a global science company employing more than 60,000 people worldwide with a diverse array of product offerings.
On September 23, 2008, Du Pont Titanium Technologies announced price increase for all Du Pont Ti-Pure titanium dioxide grades sold in Latin America. Effective October 1, Latin American prices for all Du Pont titanium dioxide grades will increase by $150 per metric ton. The company attributes the price hikes to rising demand for TiO2 and rising raw material prices.
On September 18, 2008, Du Pont declared a force majeure for its facility in Orange, Texas, after assessing the plant's damage from Hurricane Ike. This facility handles its ethylene copolymers business. It is unclear when operations here will be resumed.
Du Pont is currently valued at 12.2x our 2008 estimate of $3.59. We rate the stock a Hold with a target of $41.50. This is 11.6x our 2008 estimate.
Read the full analyst report on DD
Get real-time market insights and profitable stock recommendations from the team of analysts at Zacks Equity Research. See all todays Analyst Blog entries on Zacks.com.