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DuPont de Nemours (NYSE:DD) on Wednesday was downgraded by analysts at Wells Fargo Securities and at BMO Capital after the chemical company warned of slow sales.
Shares of DuPont (DD) fell as much as 14% before trimming the loss.
Wells Fargo lowered its rating on DuPont (DD) to Equal Weight from a previous investment rating of Overweight.
“While growth could turn the corner in the second half of 2024, we believe the stock lacks a near-term catalyst to drive meaningful multiple expansion,” according to Wells Fargo.
BMO Capital downgraded DuPont (DD) to Market Perform from Outperform.
The bank also lowered its estimates of DuPont’s (DD) earnings before interest, taxes, depreciation and amortization to $2.86 billion from $3.19 billion for 2024, and to $3.22 billion from $3.47 billion for 2025.
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