Jefferies Raises 2011E EPS Estimates On DD

DuPont (NYSE: DD) raised its outlook for 2011 EPS to $3.45-3.75 from $3.30-3.60 (vs. $3.50 consensus), excluding the $0.30-0.45 headwind from the proposed Danisco acquisition, Jefferies reports.

“The new outlook reflects a $0.11-$0.12 benefit from lower pension expense, $0.09 from a lower tax rate, and roughly a $0.06 headwind from a higher share count,” Jefferies writes. “We are raising 2011E EPS $0.25 to $3.70 to reflect these factors as well as a shift to a slightly more positive stance on TiO2 pricing in 2H11.”

DuPont closed Tuesday at $49.04.