Raising Our DowDuPont Fair Value Estimate to $54 on Improved Synergies Outlook
DowDuPont reported solid fourth-quarter earnings in the company’s first full quarter after the merger. Operating EBITDA grew 24% year on year to $3.9 billion on a pro forma basis, as profits were boosted by operating leverage from higher volumes across all segments. We’re increasing our fair value estimate to $54 per share from $52 due to our expectation for slightly higher cost-saving synergies as a result of the merger. Our narrow moat rating is unchanged.In the DowDuPont’s earnings release, ...
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