Tuesday, July 27, 2010

Dupont beats and raises

And Jefferies pimps it:

DuPont shares up 4.8% premarket at $40.85 after solid second-quarter earnings and company’s increased EPS outlook. “Each cycle, DuPont presents two opportunities to investors,” Jefferies says. “As an early cyclical bellwether, it should rally before the economy turns. As a diversified conglomerate, it has the perennial promise of transformation and revival. Neither is fully priced in, in our view.” Jefferies listening on conference call for updates on productivity; outlook for raw materials vs pricing; forex impact; end market trends; and potential M&A, among other things.

Sorry bears---stocks are cheap--so look forward to PE expansions, as earnings going forward will be bid up more by investors.

Wait---what was the bearish case again?

Oh My!!!

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