DuPont shares dropped Monday after Barclays downgraded the materials giant to a sell-equivalent rating and trimmed its price target.
Wall Street analysts made the wrong call on DuPont, but it may be welcome news for investors looking to buy the stock. The stock dropped 2% on Monday. Barclays cut the materials name to a sell-equivalent rating from hold and trimmed its price target by $4 per share to $84, which is below current levels.
The company in late July reported strong quarterly earnings and delivered a guidance raise. The financials highlighted another reason to stay optimistic about DuPont — a recovery in its electronics business, which should continue to improve with the rise in artificial intelligence adoption and China's big stimulus plans. But, what level, specifically, would we be buyers? DuPont stock, trading around $85 per share Monday, would have to fall at least another 6% to below $80 to interest us.
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