DuPont (DD) PT Raised to $92 at KeyBanc

KeyBanc analyst Aleksey Yefremov raised the price target on DuPont (NYSE: DD) to $92.00 (from $87.00) while maintaining a Overweight rating.

The analyst commented: "Overall Beat with Some Divergence in Industrials; DD continues to deliver healthy earnings growth led by secular trends in electronics, water, and healthcare, which is offsetting softness in industrial/ building & construction markets. Outsized exposure to advanced nodes (35% vs. industry ~20%) and AI/data centers (~15% vs. industry ~5%) is delivering growth ahead of peers, a feat that exemplifies the quality of DD's electronics portfolio. Exposure to advanced packaging and heat management products is one of the advantages of DD's Electronics portfolio in this environment. While Electronics benefited from ~$15M of sales pull-forward in 2Q (~1%), growth is still likely to be in the MSD range during 2H with the full year tracking to ~7% (the high end of the previously outlined target). Similar to ENTG, DD is seeing a green shoots of recovery in legacy nodes/lagging edge in 2H25, which should aid earnings growth into 2026. Partially countering strength in secular growth/higher margin markets is a more challenging outlook for the core industrial and construction business, which led to Industrials segment organic growth revision down to 2% from 3% earlier. Management did not comment on a potential divestiture of the Aramids business (see our note here). We remain upbeat about the upcoming spin in November as we expect Qnity (Electronics) to re-rate higher. We see healthy upside to DD shares based on our SOTP analysis; thus, we reiterate our Overweight rating. We raise our price target to $92 on a stronger earnings forecast based on a 12.6x 2026E EBITDA."

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