Cramer's Morning Take: DuPont 5/17/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 17 May 2024
⏱️ 3 minutes
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| 0:00.0 | I'm Jim Kramer and you're about to hear a sample taken directly from today's |
| 0:06.5 | CBC Investing Club morning meeting. |
| 0:09.8 | I want to go over for a second what we've been talking about, which is that DuPont is |
| 0:13.3 | so great and we didn't have enough that we literally are, I mean this is what you should |
| 0:18.3 | do. If you have a stock you really love, you actually wanted to come down. |
| 0:21.6 | I want DuPont to come down because I think had we known all the good things, we were kind of wired to it, but this is where you would have bought a ton of stock. |
| 0:30.6 | Yeah, and I think it was an upgrade today from Jeffries, pretty big call. They raise a price target to 101 from 78. They go to buy. |
| 0:38.3 | Talking about basically an upturn that could go through 2025 into 2026. |
| 0:45.6 | So you've got multiple years of runway here. |
| 0:48.1 | A lot of that being driven by electronics, new PCs, cell phones, but also there's an AI data center component as well. |
| 0:58.0 | You know, residential construction. |
| 1:00.0 | They're also exposed to industrial water as well. |
| 1:04.0 | They like the balance sheet flexibility. |
| 1:06.0 | We know DuPont likes to do a lot of accelerated share purchases. |
| 1:10.0 | They're kind of completing the last one now. |
| 1:12.6 | And they'll do another one after that. And then the multiple, I mean, if you look at peers in electronics, |
| 1:18.5 | you look at peers in water, it's much cheaper. Yes, well, because it did miss a couple of quarters. |
| 1:22.8 | It hasn't been good. No, it's not. I mean, we were there for this where I had actually some tough |
| 1:28.7 | conversations with management saying, guys, you can't keep doing this. Right. And that was |
| 1:32.9 | and that was due to some inventory, de-stocking and water. But then they talked about in |
| 1:38.2 | conference season here that the orders have been picking up. Yeah, that was everyone. And that was |
| 1:43.0 | the key. It's kind of like an inflection story because the numbers |
... |
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