Citi Has Buy Rating On Dupont Following Earnings (DD)

Citi Investment Research has a Buy rating and a $65 price target on shares of E I du Pont de Nemours and Co DD after the chemical company reported earnings this morning. In a note to investors, Citi writes, "DD reported 1Q EPS of $1.52 vs. our estimate of $1.40 and consensus of $1.36. Upside to our estimate was attributable to Ag and Performance Chemicals (TiO2) as a strong start to the North America growing season and continued price increases in TiO2 drove PTOI. Sales rose 18%, largely driven by 9% volume growth on strength in emerging markets (volumes +13% in Asia and +19% in LatAm). DD also raised FY11 guidance to $3.65-$3.85 from $3.45-$3.75 previously." Shares of DD are up 9 cents to $55.46, a gain of 0.16% so far this morning.