DuPont Inc (DD) said on Tuesday that it had restored Edward Breen as its Chief Executive Officer. Breen, who at present serves as DuPont’s Chairman, is to replace Marc Doyle.
DuPont shares closed higher for a second consecutive trading session in New York on Wednesday. The stock edged up 0.11% ($0.06) to $53.50, after touching an intraday high at $53.90 and an intraday low at $53.30.
Shares of DuPont Inc have retreated 16.67% so far in 2020 compared with a 4.81% gain for the benchmark index, S&P 500 (SPX).
In 2019, DuPont’s stock went down 15.64%, thus, it again underperformed the S&P 500, which registered a 28.88% gain.
According to Alexander Cutler, DuPont’s lead independent director, the company’s board concluded now was the right moment to bring back Edward Breen to the CEO role so that the business could draw more directly on his vast operating experience.
Meanwhile, Lori Koch has been appointed as DuPont’s next Chief Financial Officer, succeeding Jeanmarie Desmond. The executive changes are with an immediate effect, DuPont said.
Analyst stock price forecast and recommendation
According to CNN Money, the 19 analysts, offering 12-month forecasts regarding DuPont Inc’s stock price, have a median target of $72.00, with a high estimate of $91.00 and a low estimate of $56.00. The median estimate represents a 34.58% upside compared to the closing price of $53.50 on February 19th.
The same media also reported that at least 16 out of 22 surveyed investment analysts had rated DuPont Inc’s stock as “Buy”, while 5 – as “Hold”.