UPDATE: Deutsche Bank Reinstates DuPont at Buy

Deutsche Bank is out with its report today on DuPont DD, reinstating DD at Buy. In a note to clients, Deutsche Bank writes, "Following a 5 month restriction (DB was an advisor to Danisco on its recently completed acquisition by DuPont), we are reinstating coverage of DuPont with a Buy rating and a price target of $58, 15% above the current share price. With a dividend yield of 3.2%, valuation of 13.1x ‘11E EPS a 4% discount to the S&P, 40%, or $24/shr, of our $60/shr SOTP value from defensive seeds, ag chem and nutrition businesses and 16% CAGR EPS growth in '11-'12E, we believe DuPont is an attractive option for investors in a period of slowing economic growth." Shares of DD closed Friday at $50.29, down 1.72% from Thursday's close.